Mon, Jan 17, 2022 @ 07:08 GMT

GBP/JPY Daily Outlook

Daily Pivots: (S1) 155.59; (P) 156.11; (R1) 156.75; More…

Intraday bias in GBP/JPY remains neutral for the moment, and consolidation from 157.74 could extend. Overall, further rise is still expected with 154.86 support intact. On the upside, decisive break of 158.19 high will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

In the bigger picture, strong rebound from 148.93 key structural support retains medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least.

GBP/JPY Weekly Outlook

GBP/JPY stayed in consolidation from 157.74 last week. Initial bias remains neutral this week first. Further rally is expected with 154.86 support intact. On the upside, decisive break of 158.19 high will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

In the bigger picture, strong rebound from 148.93 key structural support retains medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least.

In the longer term picture, as long as 55 month EMA (now at 147.06) holds, we’d still favor more rally to 61.8% retracement of 195.86 to 122.75 at 167.93. But sustained trading below 55 month EMA will at least neutralize medium term bullishness and re-open the chance of revisiting 122.75 low (2016 low).

GBP/JPY Daily Outlook

Daily Pivots: (S1) 156.07; (P) 156.76; (R1) 157.21; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 157.74. Further rally is expected with 154.86 support intact. On the upside, decisive break of 158.19 high will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

In the bigger picture, strong rebound from 148.93 key structural support retains medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 156.68; (P) 157.19; (R1) 157.62; More…

GBP/JPY is staying in consolidation from 157.74 and intraday bias remains neutral first. Further rally is expected with 154.86 support intact. On the upside, decisive break of 158.19 high will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

In the bigger picture, strong rebound from 148.93 key structural support retains medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 156.59; (P) 156.95; (R1) 157.56; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 157.74 is in progress. Further rally is expected with 154.86 support intact. On the upside, decisive break of 158.19 high will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

In the bigger picture, strong rebound from 148.93 key structural support retains medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 155.82; (P) 156.60; (R1) 157.24; More…

Intraday bias in GBP/JPY stays neutral, but further rally is expected as long as 154.86 support holds. Decisive break of 158.19 high will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

In the bigger picture, strong rebound from 148.93 key structural support retains medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 156.81; (P) 157.00; (R1) 157.26; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 157.74 continues. Further rise is expected as long as 154.86 support holds. Decisive break of 158.19 high will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

In the bigger picture, strong rebound from 148.93 key structural support retains medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least.

GBP/JPY Weekly Outlook

GBP/JPY rose further to 157.74 last week but retreated ahead of 158.19 resistance. Initial bias is neutral this week for some consolidation first. Further rise is expected as long as 154.86 support holds. Decisive break of 158.19 high will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

In the bigger picture, strong rebound from 148.93 key structural support retains medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

In the longer term picture, as long as 55 month EMA (now at 147.06) holds, we’d still favor more rally to 61.8% retracement of 195.86 to 122.75 at 167.93. But sustained trading below 55 month EMA will at least neutralize medium term bullishness and re-open the chance of revisiting 122.75 low (2016 low).

GBP/JPY Daily Outlook

Daily Pivots: (S1) 156.12; (P) 156.79; (R1) 157.50; More…

Intraday bias in GBP/JPY is turned neutral for consolidations first. Further rally is expected as long as 154.86 support holds. Decisive break of 158.19 high will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Daily Outlook

Daily Pivots: (S1) 156.73; (P) 157.25; (R1) 157.92; More…

GBP/JPY is losing some upside momentum but further rise is expected with 154.85 support holds. Further rally should be seen back to retest 158.19. Firm break there will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias back to the downside for deeper pull back.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Daily Outlook

Daily Pivots: (S1) 155.86; (P) 156.64; (R1) 157.91; More…

Intraday bias in GBP/JPY remains on the upside. As noted before, correction from 158.19 should have completed with three waves down to 148.94, after defending 148.93 key support. Further rally should be seen back to retest 158.19. Firm break there will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Mid-Day Outlook

Daily Pivots: (S1) 154.94; (P) 155.44; (R1) 155.97; More…

GBP/JPY’s rise from 148.94 resumed after brief retreat and intraday bias is back on the upside. As noted before, correction from 158.19 should have completed with three waves down to 148.94, after defending 148.93 key support. Further rally should be seen back to retest 158.19. Firm break there will resume larger up trend to 167.93 long term fibonacci level. On the downside, below 154.86 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Daily Outlook

Daily Pivots: (S1) 154.94; (P) 155.44; (R1) 155.97; More…

Intraday bias in GBP/JPY is turned neutral as it retreated after hitting 155.98. Some consolidations could be seen but further rally is expected as long as 153.97 support holds. As noted before, correction from 158.19 should have completed with three waves down to 148.94, after defending 148.93 key support. Break of 155.98 will resume the rise from 148.94 to retest 158.19 high next.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Daily Outlook

Daily Pivots: (S1) 154.39; (P) 154.76; (R1) 155.47; More…

GB/JPY’s rise continues today and break of 154.70 resistance should confirm that correction from 158.19 has completed with three waves down to 148.94, after defending 148.93 key support. Intraday bias remains on the upside for retesting 158.19 high next. On the downside, below 153.97 minor support will turn intraday bias neutral and bring consolidations. But retreat should be contained by 152.60 resistance turned support to bring another rally.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Daily Outlook

Daily Pivots: (S1) 153.97; (P) 154.27; (R1) 154.54; More…

GBP/JPY is losing some upside momentum as seen in 4 hour MACD. But further rise is expected with 153.02 minor support intact. Firm break of 154.70 should confirm the bullish case that correction from 158.19 has completed at 148.94, after defending 148.93 key support. Further rally should then be seen to retest 158.19 next. On the downside, however, break of 153.02 minor support will mix up the near term outlook and turn intraday bias neutral again first.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Daily Outlook

Daily Pivots: (S1) 153.57; (P) 154.02; (R1) 154.90; More…

GBP/JPY’s rise from 148.94 continues today and hit as high as 154.43 so far. Current development suggest that correction from 158.19 is complete after defending 148.93 support. Intraday bias stays on the upside for 154.70 resistance. Firm break there should confirm this bullish case and target a test on 158.19 high. Nevertheless, break of 153.02 minor support will mix up the near term outlook and turn intraday bias neutral again first.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low), to 61.8% retracement of 195.86 to 122.75 at 167.93. Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Daily Outlook

Daily Pivots: (S1) 151.48; (P) 152.03; (R1) 152.96; More…

Break of 152.60 resistance suggests that GBP/JPY’s rebound from 148.94 is resuming. More importantly, the break of 55 day EMA also argues that correction from 158.19 is finished after defending 148.93 support. Intraday bias is back on the upside for 154.70 resistance first. Firm break there should confirm this bullish case and target a test on 158.19 high.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low). Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Daily Outlook

Daily Pivots: (S1) 150.39; (P) 150.90; (R1) 151.91; More…

Intraday bias in GBP/JPY remains neutral at this point. On the downside, firm break of 148.94 will resume larger fall from 158.19 to 145.10 medium term fibonacci level next. For now, outlook will stay bearish as long as 152.60 resistance holds, in case of stronger recovery.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low). Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Daily Outlook

Daily Pivots: (S1) 149.54; (P) 150.06; (R1) 150.59; More…

Intraday bias in GBP/JPY is turned neutral as it recovered ahead of 148.94 support. On the downside, firm break of 148.94 will resume larger fall from 158.19 to 145.10 medium term fibonacci level next. For now, outlook will stay bearish as long as 152.60 resistance holds, in case of stronger recovery.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low). Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least

GBP/JPY Daily Outlook

Daily Pivots: (S1) 150.05; (P) 150.89; (R1) 151.34; More…

GBP/JPY’s rebound from 148.94 should have completed at 152.60. Intraday bias is mildly on the downside for 148.94 first. Break there will resume larger fall from 158.19 to 145.10 medium term fibonacci level next. On the upside, break of 151.06 will delay the bearish case and turn intraday bias neutral first.

In the bigger picture, strong rebound from 148.93 key structural support will retain medium term bullishness. Firm break of 158.19 high will resume whole up trend from 123.94 (2020 low). Nevertheless, firm break of 148.93 will bring deeper correction to 38.2% retracement of 123.94 to 158.19 at 145.10, and possibly further lower, as a correction to up trend from 123.94 at least