Sun, Nov 18, 2018 @ 16:16 GMT

GBP/JPY Weekly Outlook

GBP/JPY’s sharp decline last week suggests rejection by 149.70 resistance. Initial bias remains on the downside this week for 142.76 support first. Sustained break there will bring retest of 139.39/47 key support zone. On the upside, above 145.59 support turned resistance could bring stronger rebound. But near tem outlook will be neutral at best as long as 149.70 key resistance holds.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

In the longer term picture, as long as 139.29 holds, rise from 122.36 is in favor to extend to 50% retracement of 195.86 (2015 high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead (116.83 as 2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 143.62; (P) 145.78; (R1) 147.30; More…

Intraday bias in GBP/JPY remains on the downside for 142.76 support. Break there will bring further fall to 139.29/47 key support zone next. On the upside, break of 145.99 minor resistance could bring stronger rebound. But near tem outlook will be neutral at best as long as 149.70 key resistance holds.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Mid-Day Outlook

Daily Pivots: (S1) 146.46; (P) 147.45; (R1) 148.57; More…

Strong break of 145.99 support suggests that fall from 149.48 has resumed. And rebound from 142.76 has completed ahead of 149.70 resistance. Intraday bias is turned back to the downside for 142.76 support. Break will target key support zone at 139.29 again. On the upside, above 145.99 support turned resistance will turn intraday bias neutral first.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 146.46; (P) 147.45; (R1) 148.57; More…

Intraday bias in GBP/JPY remains neutral as range trading continues. On the downside, break of 145.99 should confirm completion of rebound from 142.76. And in that case, deeper fall should be seen back to 142.76 and possibly below. On the upside, decisive break of 149.70 will resume whole rise from 139.88 and target 153.84/156.59 resistance zone.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 146.16; (P) 147.43; (R1) 148.87; More…

Intraday bias in GBP/JPY remains neutral for the moment. On the downside, break of 145.99 should confirm completion of rebound from 142.76. And in that case, deeper fall should be seen back to 142.76 and possibly below. On the upside, decisive break of 149.70 will resume whole rise from 139.88 and target 153.84/156.59 resistance zone.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 145.68; (P) 146.66; (R1) 147.25; More…

Despite breaching 146.28 briefly, GBP/JPY quickly recovered. Intraday bias stays neutral first. On the downside, sustained break of 146.28 will confirm completion of rebound from 142.76. And in that case, deeper fall should be seen back to 142.76 and possibly below. On the upside, decisive break of 149.70 will resume whole rise from 139.88 and target 153.84/156.59 resistance zone.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 147.09; (P) 148.10; (R1) 148.71; More…

GBP/JPY’s fall from 149.48 accelerates lower today and focus is on 146.28 support. Decisive break there will confirm completion of rebound from 142.76. And in that case, deeper fall should be seen back to 142.76 and possibly below. On the upside, decisive break of 149.70 will resume whole rise from 139.88 and target 153.84/156.59 resistance zone.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Weekly Outlook

GBP/JPY rose to as high as 149.48 last week but failed to take out 149.70 resistance and retreated sharply. As it stays above 146.28 minor support, initial bias is neutral this week and another rise is mildly in favor. On the upside, decisive break of 149.70 will resume whole rise from 139.88 and target 153.84/156.59 resistance zone. On the downside, below 146.28 minor support will turn bias back to the downside for 142.76 instead.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

In the longer term picture, as long as 139.29 holds, rise from 122.36 is in favor to extend to 50% retracement of 195.86 (2015 high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead (116.83 as 2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 148.54; (P) 149.01; (R1) 149.42; More…

GBP/JPY’s decline from 149.48 extends lower today but it’s staying above 146.28 minor support. Intraday bias stays neutral first and another rise is mildly in favor. On the upside, decisive break of 149.70 will resume whole rise from 139.88 and target 153.84/156.59 resistance zone. On the downside, below 146.28 minor support will turn bias back to the downside for 142.76 instead.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Mid-Day Outlook

Daily Pivots: (S1) 148.51; (P) 148.88; (R1) 149.43; More…

GBP/JPY retreats mildly ahead of 149.70 resistance. With 4 hour MACD crossed below signal line, intraday bias is turned neutral first. As long as 142.76 support holds, further rally is in favor. On the upside, decisive break of 149.70 will resume whole rise from 139.88 and target 153.84/156.59 resistance zone. On the downside, below 146.28 minor support will turn bias back to the downside for 142.76 instead.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 148.51; (P) 148.88; (R1) 149.43; More…

GBP/JPY’s rally is still in progress and intraday bias remains on the upside for 149.70 resistance. Firm break there will resume the whole rise from 139.88 and target 153.84/156.59 resistance zone. On the downside, below 146.28 minor support will turn bias back to the downside for 142.76 again.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 147.76; (P) 148.23; (R1) 149.17; More…

Intraday bias in GBP/JPY remains on the upside as rise from 142.76 is in progress for 149.70 resistance. Break will resume the rise from 139.88 and target 153.84/156.59 resistance zone. On the downside, below 146.28 minor support will turn bias back to the downside for 142.76 again.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 147.06; (P) 147.44; (R1) 148.00; More…

GBP/JPY’s rise from 142.76 is still in progress. Intraday bias remains on the upside for 149.70 resistance first. Break will resume the rise from 139.88 and target 153.84/156.59 resistance zone. On the downside, below 146.28 minor support will turn bias back to the downside for 142.76 again.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 146.28; (P) 146.77; (R1) 147.28; More…

Intraday bias in GBP/JPY remains on the upside as rebound from 142.76 is in progress for 149.70 first. Break will resume the rise from 139.88 and target 153.84/156.59 resistance zone. On the downside, below 145.43 minor support will turn bias back to the downside for 142.76 again.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Weekly Outlook

GBP/JPY’s rebound from 142.76 accelerated higher last week and the development suggests that pull back from 149.70 has completed. Initial bias stays on the upside this week for 149.70 first. Break will resume the rise from 139.88 and target 153.84/156.59 resistance zone. On the downside, below 145.43 minor support will turn bias back to the downside for 142.76 again.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

In the longer term picture, as long as 139.29 holds, rise from 122.36 is in favor to extend to 50% retracement of 195.86 (2015 high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead (116.83 as 2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 144.76; (P) 145.75; (R1) 147.48; More…

Intraday bias in GBP/JPY remains on the upside. Current development suggests that pull back from 149.70 has completed. Further rise should be seen to retest 149.70 first. Break will resume the rise from 139.88 and target 153.84/156.59 resistance zone. On the downside, below below 145.43 minor support will turn bias back to the downside for 142.76 again.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 143.52; (P) 144.33; (R1) 145.05; More…

GBP/JPY’s rebound from 142.76 is still in progress and focus is on 145.81 support turned resistance. Firm break there will indicate completion of the fall from 149.70. Further rise should be seen back to 149.70. On the downside, break of 142.76 will extend the fall from 149.70 for retesting 139.88 low instead.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 143.16; (P) 143.78; (R1) 144.33; More…

Intraday bias in GBP/JPY remains neutral for consolidation above 142.76 temporary low. Near term outlook remains cautiously bearish as long as 146.50 minor resistance holds. Break of 142.76 will extend the fall from 149.70 for retesting 139.88 low.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 143.26; (P) 143.83; (R1) 144.33; More…

Intraday bias in GBP/JPY remains neutral for consolidation above 142.76 temporary low. Near term outlook remains cautiously bearish as long as 146.50 minor resistance holds. Break of 142.76 will extend the fall from 149.70 for retesting 139.88 low.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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GBP/JPY Mid-Day Outlook

Daily Pivots: (S1) 142.81; (P) 143.51; (R1) 144.24; More…

A temporary low is formed at 142.76 in GBP/JPY with today’s recovery. Intraday bias is turned neutral for consolidation. But near term outlook remains cautiously bearish as long as 146.50 minor resistance holds. Break of 142.76 will extend the fall from 149.70 for retesting 139.88 low.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, up trend from 122.36 (2016 low) would still extend beyond 156.69 high. However, decisive break of 139.29/47 will suggest that such up trend is completed and turn outlook bearish. In that case, next target is 61.8% retracement at 135.43.

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