Daily Pivots: (S1) 196.14; (P) 197.55; (R1) 199.22; More…

A temporary low should be formed at 195.84 and intraday bias in GBP/JPY is turned neutral for consolidations. Risk will stay on the downside as long as 202.08 support turned resistance holds. Sustained trading below 38.2% retracement of 178.32 to 208.09 at 196.71 will argue that larger scale correction is under way to 185.49 fibonacci level.

In the bigger picture, considering bearish divergence condition in W MACD, 208.09 might be a medium term top and fall from there could already be correcting whole up trend from 148.93 (2022 low). Risk will now stay on the downside as long as 55 D EMA (now at 201.00). Sustained break of 196.71 will pave the way to 38.2% retracement of 148.93 to 208.09 at 185.49.

Daily Pivots: (S1) 197.22; (P) 199.20; (R1) 200.63; More…

There is no sign of bottoming in GBP/JPY yet as fall from 208.09 continues today. Intraday bias stays on the downside. Sustained trading below 38.2% retracement of 178.32 to 208.09 at 196.71 will argue that larger scale correction is under way to 185.49 fibonacci level. On the upside, above 199.80 minor resistance will turn intraday bias neutral first.

In the bigger picture, considering bearish divergence condition in W MACD, 208.09 might be a medium term top and fall from there could already be correcting whole up trend from 148.93 (2022 low). Risk will now stay on the downside as long as 55 D EMA (now at 201.00). Sustained break of 196.71 will pave the way to 38.2% retracement of 148.93 to 208.09 at 185.49.

Daily Pivots: (S1) 199.97; (P) 201.57; (R1) 202.38; More…

GBP/JPY’s fall from 208.09 accelerates to as low as 198.95 so far, breaking through 55 D EMA. Intraday bias stays on the downside for for 38.2% retracement of 178.32 to 208.09 at 196.71 next. For now, risk will stay on the downside as long as 202.08 support turned resistance holds, in case of recovery.

In the bigger picture, medium term outlook will stay bullish as long as 188.63 resistance turned support holds. Long term up trend remains in favor to continue through 208.09 at a later stage. However, firm break of 188.63 will be a strong sign of bearish trend reversal.

Daily Pivots: (S1) 202.15; (P) 202.88; (R1) 203.86; More…

Intraday bias in GBP/JPY remains on the downside for the moment. Fall from 208.09, as a correction to whole rise from 178.32, is in progress. Sustained break of 55 D EMA (now at 201.13) will target 38.2% retracement of 178.32 to 208.09 at 196.71. Nevertheless, break of 204.20 resistance will retain near term bullishness and bring retest of 208.09 high.

In the bigger picture, medium term outlook will stay bullish as long as 188.63 resistance turned support holds. Long term up trend remains in favor to continue through 208.09 at a later stage. However, firm break of 188.63 will be a strong sign of bearish trend reversal.

Daily Pivots: (S1) 202.75; (P) 203.47; (R1) 203.97; More…

Intraday bias in GBP/JPY is back on the downside with breach of 20208 temporary low. Fall from 208.09 is resuming, as a correction to whole rise from 178.32. Next target is 55 D EMA (now at 201.02). Sustained break there will target 38.2% retracement of 178.32 to 208.09 at 196.71. Nevertheless, break of 204.20 resistance will retain near term bullishness and bring retest of 208.09 high.

In the bigger picture, medium term outlook will stay bullish as long as 188.63 resistance turned support holds. Long term up trend remains in favor to continue through 208.09 at a later stage. However, firm break of 188.63 will be a strong sign of bearish trend reversal.

GBP/JPY’s pullback from 208.09 extended lower last week but recovered after hitting 202.08. Initial bias remains neutral this week first. Further fall is in favor as long as 205.77 resistance holds. This decline from 208.09 might be correcting the whole rise from 178.32 already. Break of 202.08 will target 55 D EMA (now at 201.21). Sustained break there will target 38.2% retracement of 178.32 to 208.09 at 196.71. Nevertheless, break of 205.77 will retain near term bullishness and bring retest of 208.09 high.

In the bigger picture, medium term outlook will stay bullish as long as 188.63 resistance turned support holds. Long term up trend remains in favor to continue through 208.09 at a later stage. However, firm break of 188.63 will be a strong sign of bearish trend reversal.

In the longer term picture, rise from 122.75 (2016 low) is seen as the third leg of the pattern from 116.83 (2011 low). Next target is 138.2% projection of 116.83 to 195.86 from 122.75 at 231.96. Outlook will stay bullish as long as 188.63 resistance turned, or until a clear reversal pattern forms.

Daily Pivots: (S1) 202.57; (P) 203.22; (R1) 204.341; More…

Intraday bias in GBP/JPY is turned neutral with 4H MACD crossed above signal line. Strong support could be seen from 38.2% retracement of 191.34 to 208.09 at 201.69 to bring rebound. On the upside, above 205.77 minor resistance will turn intraday bias will turn bias back to the upside for retesting 208.09. However, sustained break of 201.69 will argue that larger correction is already underway.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 200.72 resistance turned support holds, even in case of deep pullback.

Daily Pivots: (S1) 202.23; (P) 203.96; (R1) 204.91; More…

Intraday bias in GBP/JPY is back on the downside as fall from 208.09 resumed. Deeper decline would be seen to 38.2% retracement of 191.34 to 208.09 at 201.69. Strong support is expected there to bring rebound. On the upside, above 205.77 minor resistance will turn intraday bias will turn bias back to the upside for retesting 208.09. However, sustained break of 201.69 will argue that larger correction is already underway.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 200.72 resistance turned support holds, even in case of deep pullback.

Daily Pivots: (S1) 204.94; (P) 205.37; (R1) 205.94; More…

Intraday bias in GBP/JPY stays neutral for consolidation above 203.82 temporary low. Corrective fall from 208.09 short term top could still extend lower. Break of 203.82 would target 38.2% retracement of 191.34 to 208.09 at 201.69. Strong support is expected there to bring rebound. On the upside, above 206.35 minor resistance will turn intraday bias will turn bias back to the upside for retesting 208.09. However, sustained break of 201.69 will argue that larger correction is already underway.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 200.72 resistance turned support holds, even in case of deep pullback.

Daily Pivots: (S1) 204.32; (P) 204.86; (R1) 205.57; More…

Intraday bias in GBP/JPY is turned neutral first. Corrective fall from 208.09 short term top could still extend lower. Break of 203.82 would target 38.2% retracement of 191.34 to 208.09 at 201.69. Strong support is expected there to bring rebound. On the upside, above 206.35 minor resistance will turn intraday bias will turn bias back to the upside for retesting 208.09. However, sustained break of 201.69 will argue that larger correction is already underway.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 200.72 resistance turned support holds, even in case of deep pullback.

Daily Pivots: (S1) 203.83; (P) 205.09; (R1) 206.33; More…

GBP/JPY’s correction from 208.09 short term top could extend lower. Below 203.82 will target 38.2% retracement of 191.34 to 208.09 at 201.69. Strong support is expected there to bring rebound, to set the range of consolidations below 208.09. However, sustained break of 201.69 will argue that larger correction is already underway.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 200.72 resistance turned support holds, even in case of deep pullback.

GBP/JPY retreated sharply after edging higher to 208.09 last week. Considering bearish divergence condition in 4H MACD, a short term top should be in place. Deeper pullback could be seen through 203.82 temporary low. But downside should be contained by 38.2% retracement of 191.34 to 208.09 at 201.69 to bring rebound, and set the range of consolidations. However, sustained break of 201.69 will argue that larger correction is already underway.

In the bigger picture, as long as 200.72 resistance turned support holds, the long term up trend should still be in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. However, firm break of 200.72 will suggest that it’s already in larger scale correction.

In the longer term picture, rise from 122.75 (2016 low) is seen as the third leg of the pattern from 116.83 (2011 low). Next target is 138.2% projection of 116.83 to 195.86 from 122.75 at 231.96. Outlook will stay bullish as long as 178.32 support holds, or until a clear reversal pattern forms.

Daily Pivots: (S1) 203.34; (P) 205.73; (R1) 207.61; More…

GBP/JPY recovered after diving sharply to 203.82. While deeper fall could be seen, strong support should emerge from 38.2% retracement of 191.34 to 208.09 at 201.69 to bring rebound, and set the range of consolidations below 208.09 short term top. However, sustained break of 201.69 will argue that larger correction is already underway.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 200.72 resistance turned support holds, even in case of deep pullback.

Daily Pivots: (S1) 206.68; (P) 207.25; (R1) 208.34; More…

GBP/JPY’s steep decline and strong break of 206.12 support suggest that a short term top is formed at 208.09, on bearish divergence condition in 4H MACD. While deeper decline cannot be ruled out, downside should be contained by 38.2% retracement of 191.34 to 208.09 at 201.69 to bring rebound, and set the range of consolidations below 208.09.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 200.72 resistance turned support holds, even in case of deep pullback.

Daily Pivots: (S1) 206.68; (P) 207.25; (R1) 208.34; More…

GBP/JPY’s rally resumed and hits as high as 208.08 so far. Intraday bias is now on the upside for 138.2% projection of 191.34 to 200.72 from 197.18 at 210.17. On the downside, below 206.12 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 200.72 resistance turned support holds, even in case of deep pullback.

Daily Pivots: (S1) 205.88; (P) 206.24; (R1) 206.60; More…

Intraday bias in GBP/JPY remains neutral at this point. Further rise is expected with 204.97 minor support intact. On the upside, sustained break of 100% projection of 191.34 to 200.72 from 197.18 at 206.56 will target 138.2% projection at 210.17. On the downside, below 204.97 minor support will turn bias to the downside for deeper pull back.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 197.18 support holds, even in case of deep pullback.

Daily Pivots: (S1) 205.28; (P) 205.98; (R1) 206.66; More…

Intraday bias in GBP/JPY is turned neutral with loss of momentum as seen in 4H MACD. On the upside, sustained break of 100% projection of 191.34 to 200.72 from 197.18 at 206.56 will target 138.2% projection at 210.17. On the downside, below 204.97 minor support will turn bias to the downside for deeper pull back.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 197.18 support holds, even in case of deep pullback.

Daily Pivots: (S1) 205.21; (P) 205.83; (R1) 206.67; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Firm break of 100% projection of 191.34 to 200.72 from 197.18 at 206.56 will target 138.2% projection at 210.17. On the downside, below 204.97 minor support will turn bias to the downside for deeper pull back.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 197.18 support holds, even in case of deep pullback.

GBP/JPY’s up trend continued last week and hit as high as 206.42. Initial bias is on the upside this week for further rally. Firm break of 100% projection of 191.34 to 200.72 from 197.18 at 206.56 will target 138.2% projection at 210.17. On the downside, below 204.97 minor support will turn bias to the downside for deeper pull back.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 197.18 support holds, even in case of deep pullback.

In the longer term picture, rise from 122.75 (2016 low) is seen as the third leg of the pattern from 116.83 (2011 low). Next target is 138.2% projection of 116.83 to 195.86 from 122.75 at 231.96. Outlook will stay bullish as long as 178.32 support holds, or until a clear reversal pattern forms.

Daily Pivots: (S1) 205.24; (P) 205.82; (R1) 206.36; More…

Intraday bias in GBP/JPY is turned neutral with current retreat and some consolidations would be seen below 206.15. Further rise is expected as long as 200.72 resistance turned support holds. Firm break of 100% projection of 191.34 to 200.72 from 197.18 at 206.56 will target 138.2% projection at 210.17.

In the bigger picture, long term up trend is still in progress. Next target is 100% projection of 155.33 to 188.63 from 178.32 at 211.62. Outlook will stay bullish as long as 197.18 support holds, even in case of deep pullback.