Daily Pivots: (S1) 146.82; (P) 147.67; (R1) 148.75; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 144.97 continues. In case of stronger rise, upside should be limited by 150.92 (50% retracement of 156.59 to 144.97 at 150.78 to bring fall resumption. Break of 144.97 will extend the decline from 156.59 to 143.51 medium term fibonacci level next.

In the bigger picture, the case for medium term reversal continues to build up. There is bearish divergence condition in daily MACD. 146.96 support was taken out. And GBP/JPY was rejected by 55 month EMA. Break of 38.2% retracement of 122.36 to 156.59 at 143.51 will pave the way to 61.8% retracement at 135.43 and below. This will now be the preferred case as long as 150.92 resistance holds.

GBP/JPY’s recovery last week indicates short term bottoming at 144.97. Initial bias remains neutral this week for consolidation above there. In case of stronger rise, upside should be limited by 150.92 (50% retracement of 156.59 to 144.97 at 150.78 to bring fall resumption. Break of 144.97 will extend the decline from 156.59 to 143.51 medium term fibonacci level next.

In the bigger picture, the case for medium term reversal continues to build up. There is bearish divergence condition in daily MACD. 146.96 support was taken out. And GBP/JPY was rejected by 55 month EMA. Break of 38.2% retracement of 122.36 to 156.59 at 143.51 will pave the way to 61.8% retracement at 135.43 and below. This will now be the preferred case as long as 150.92 resistance holds.

In the longer term picture, rejection from 55 month EEMA (now at 154.20) argues that medium term rebound from 122.36 might be completed. And, the corrective structure also carries some bearish implication today. Sustained break of 135.58 key support will likely bring retest of 122.36 low, with prospect of resuming the long term down trend from 195.86 (2015 high).

Daily Pivots: (S1) 146.08; (P) 146.86; (R1) 147.47; More…

GBP/JPY is staying in consolidation from 144.97. Intraday bias remains neutral first. In case of stronger recovery, upside should be limited below 150.92 resistance and bring fall resumption. On the downside, break of 144.97 will extend the fall from 156.69 to 143.51 medium term fibonacci level next. We’ll look for bottoming signal there. But firm break will target 139.29 support.

In the bigger picture, the case for medium term reversal continues to build up. There is bearish divergence condition in daily MACD. 146.96 support was taken out. And GBP/JPY was rejected by 55 month EMA. Break of 38.2% retracement of 122.36 to 156.59 at 143.51 will pave the way to 61.8% retracement at 135.43 and below. This will now be the preferred case as long as 150.92 resistance holds.

Daily Pivots: (S1) 146.60; (P) 147.08; (R1) 147.94; More…

Intraday bias in GBP/JPY remains neutral as recovery from 144.97 temporary low is in progress. While further rise cannot be ruled out, upside should be limited below 150.92 resistance to bring another decline. Break of 144.97 will extend the fall from 156.69 to 143.51 medium term fibonacci level next. We’ll look for bottoming signal there. But firm break will target 139.29 support.

In the bigger picture, the case for medium term reversal continues to build up. There is bearish divergence condition in daily MACD. 146.96 support was taken out. And GBP/JPY was rejected by 55 month EMA. Break of 38.2% retracement of 122.36 to 156.59 at 143.51 will pave the way to 61.8% retracement at 135.43 and below. This will now be the preferred case as long as 150.92 resistance holds.

Daily Pivots: (S1) 146.61; (P) 147.31; (R1) 148.06; More…

Intraday bias in GBP/JPY remains neutral as recovery from 144.97 temporary low is in progress. While further rise cannot be ruled out, upside should be limited below 150.92 resistance to bring another decline. Break of 144.97 will extend the fall from 156.69 to 143.51 medium term fibonacci level next. We’ll look for bottoming signal there. But firm break will target 139.29 support.

In the bigger picture, the case for medium term reversal continues to build up. There is bearish divergence condition in daily MACD. 146.96 support was taken out. And GBP/JPY was rejected by 55 month EMA. Break of 38.2% retracement of 122.36 to 156.59 at 143.51 will pave the way to 61.8% retracement at 135.43 and below. This will now be the preferred case as long as 150.92 resistance holds.

Daily Pivots: (S1) 145.71; (P) 146.41; (R1) 147.75; More…

A temporary low is in place at 144.97 as GBP/JPY recovers. Intraday bias is turned neutral first. But still, outlook remains bearish with 150.92 resistance intact. Deeper decline is expected. Break of 144.97 will extend the fall from 156.69 to 143.51 medium term fibonacci level next. We’ll look for bottoming signal there. But firm break will target 139.29 support.

In the bigger picture, the case for medium term reversal continues to build up. There is bearish divergence condition in daily MACD. 146.96 support was taken out. And GBP/JPY was rejected by 55 month EMA. Break of 38.2% retracement of 122.36 to 156.59 at 143.51 will pave the way to 61.8% retracement at 135.43 and below. This will now be the preferred case as long as 150.92 resistance holds.

Daily Pivots: (S1) 145.07; (P) 145.75; (R1) 146.53; More…

Intraday bias in GBP/JPY remains on the downside. Current fall from 156.59 is in progress for 143.51 medium term fibonacci level next. We’ll look for bottoming signal there. But firm break will target 139.29 support. On the upside, above 147.47 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 150.92 resistance holds, in case of recovery.

In the bigger picture, the case for medium term reversal continues to build up. There is bearish divergence condition in daily MACD. 146.96 support was taken out. And GBP/JPY was rejected by 55 month EMA. Break of 38.2% retracement of 122.36 to 156.59 at 143.51 will pave the way to 61.8% retracement at 135.43 and below. This will now be the preferred case as long as 150.92 resistance holds.

GBP/JPY’s decline from 156.59 resumed last week and reached as low as 144.97. Initial bias remains on the downside this week for 143.51 medium term fibonacci level next. On the upside, above 147.47 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 150.92 resistance holds, in case of recovery.

In the bigger picture, the case for medium term reversal continues to build up. There is bearish divergence condition in daily MACD. 146.96 support was taken out. And GBP/JPY was rejected by 55 month EMA. Break of 38.2% retracement of 122.36 to 156.59 at 143.51 will pave the way to 61.8% retracement at 135.43 and below. This will now be the preferred case as long as 150.92 resistance holds.

In the longer term picture, rejection from 55 month EEMA (now at 154.20) argues that medium term rebound from 122.36 might be completed. And, the corrective structure also carries some bearish implication today. Sustained break of 135.58 key support will likely bring retest of 122.36 low, with prospect of resuming the long term down trend from 195.86 (2015 high).

Daily Pivots: (S1) 145.73; (P) 146.60; (R1) 147.20; More…

GBP/JPY’s decline is still in progress and reaches as low as 145.62 so far. Intraday bias remains on the downside for 143.51 medium term fibonacci level next. On the upside, above 147.47 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 150.92 resistance holds, in case of recovery.

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in weekly MACD. Also, firm break of 146.96 should now indicate rejection by 55 month EMA (now at 154.60) and add to that case of reversal. Deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. This will now be the preferred case as long as 150.92 resistance holds.

Daily Pivots: (S1) 145.82; (P) 147.67; (R1) 148.62; More…

Intraday bias in GBP/JPY remains on the downside as fall from 156.59 is in progress. Considering bearish divergence condition in daily MACD, firm break of 146.96 will be another sign of medium term trend reversal. And GBP/JPY should target 143.51 medium term fibonacci level next. On the upside, break of 150.92 resistance is needed to confirm short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in weekly MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA (now at 154.60) and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.

Daily Pivots: (S1) 148.80; (P) 149.30; (R1) 149.78; More…

GBP/JPY’s fall resumed from 156.59 by breaking 147.95 support. Intraday bias is turned back to the downside. Current fall should target 146.96 support next. Considering bearish divergence condition in daily MACD, firm break of 146.96 will be another sign of medium term trend reversal. On the upside, break of 150.92 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in weekly MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA (now at 154.60) and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.

Daily Pivots: (S1) 148.80; (P) 149.30; (R1) 149.78; More…

GBP/JPY weakens mildly today but it’s staying in range above 147.95. Intraday bias remains neutral as consolidation could extend. But with 151.90 resistance intact, deeper decline is expected. Below 147.95 will resume the fall from 156.59 and target 146.96 support next. Considering bearish divergence condition in daily MACD, firm break of 146.96 will be another sign of medium term trend reversal. On the upside, break of 151.19 will indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in weekly MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA (now at 154.60) and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.

Daily Pivots: (S1) 148.89; (P) 149.45; (R1) 149.90; More…

Intraday bias in GBP/JPY remains neutral for consolidation above 147.95. With 151.90 resistance intact, deeper decline is expected. Below 147.95 will resume the fall from 156.59 and target 146.96 support next. Considering bearish divergence condition in daily MACD, firm break of 146.96 will be another sign of medium term trend reversal. On the upside, break of 151.19 will indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in weekly MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA (now at 154.60) and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.

Daily Pivots: (S1) 148.75; (P) 149.13; (R1) 149.63; More…

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in weekly MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA (now at 154.60) and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.

GBP/JPY stayed in consolidation above 147.95 last week and outlook is unchanged. Initial bias remains neutral this week first. Also, outlook remains bearish with 151.19 resistance intact and deeper decline is expected. Below 147.95 will resume the fall from 156.59 and target 146.96 support next. Considering bearish divergence condition in daily MACD, firm break of 146.96 will be another sign of medium term trend reversal. On the upside, break of 151.19 will indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in weekly MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA (now at 154.60) and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.

In the longer term picture, down trend from 195.86 (2015 high) has already completed at 122.36. Focus is now on 55 month EMA (now at 154.60). Firm break there will suggest that rise from 122.36 is developing into a long term move that targets 195.86 again. And, price actions from 116.83 (2011 low) is indeed a sideway pattern that could last more than a decade. However, rejection from the 55 month EMA will turn focus back to 122.36 low.

Daily Pivots: (S1) 148.34; (P) 149.16; (R1) 149.78; More…

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in 4 hour MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.

Daily Pivots: (S1) 149.28; (P) 150.10; (R1) 150.79; More…

GBP/JPY’s consolidation from 147.95 is still in progress and intraday bias remains neutral. Outlook remains bearish with 151.19 resistance intact and deeper fall is still expected. Break of 147.95 will extend the fall from 156.69 and target 146.96 support next. Considering bearish divergence condition in daily MACD, firm break of 146.96 will be another sign of medium term trend reversal. On the upside, break of 151.19 will indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in 4 hour MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.

Daily Pivots: (S1) 149.38; (P) 149.87; (R1) 150.69; More…

GBP/JPY’s recovery from 147.95 continues today but it’s staying below 151.19 resistance. Intraday bias remains neutral and deeper fall is still expected. Break of 147.95 will extend the fall from 156.69 and target 146.96 support next. Considering bearish divergence condition in daily MACD, firm break of 146.96 will be another sign of medium term trend reversal. On the upside, break of 151.19 will indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in 4 hour MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.

Daily Pivots: (S1) 148.89; (P) 149.18; (R1) 149.48; More…

Consolidation from 147.95 temporary low is still in progress and intraday bias in GBP/JPY remains neutral. In case of another recovery, upside should be limited by 151.19 resistance to bring fall resumption. Break of 147.95 will extend the fall from 156.69 and target 146.96 support next. Considering bearish divergence condition in daily MACD, firm break of 146.96 will be another sign of medium term trend reversal. On the upside, break of 151.19 will indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in 4 hour MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.

Daily Pivots: (S1) 148.62; (P) 149.28; (R1) 149.80; More…

Intraday bias in GBP/JPY remains neutral for consolidation above 147.95 temporary low. Upside of recovery should be limited by 151.19 resistance to bring another fall. Below 147.95 will target 146.96 support next. Considering bearish divergence condition in daily MACD, firm break of 146.96 will be another sign of medium term trend reversal. On the upside, break of 151.19 will indicate short term bottoming and turn bias back to the upside for rebound.

In the bigger picture, the case for medium term reversal continues to build up on loss of medium term momentum as seen in 4 hour MACD. Also, firm break of 146.96 will indicate rejection by 55 month EMA and add to that case of reversal. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43. Meanwhile, break of 156.59 will extend the rise from 122.36 to 61.8% retracement of 195.86 to 122.36 at 167.78.