Daily Pivots: (S1) 169.47; (P) 170.22; (R1) 170.94; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 172.11. Downside of retreat should be contained above 164.95 support to bring another rally. Break of 172.11 will resume larger up trend and target 100% projection of 148.93 to 165.69 from 159.71 at 176.47 next.

In the bigger picture, up trend from 123.94 (2020 low), as part of the trend from 122.75 (2016 low) is still in progress. Further rise would be seen to 161.8% projection of 122.75 to 156.59 (2018 high) from 123.94 at 178.69. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 169.91; (P) 171.02; (R1) 171.70; More…

GBP/JPY retreated after hitting 172.11 and intraday bias is turned neutral first. Downside of retreat should be contained above 164.95 support to bring another rally. Break of 172.11 will resume larger up trend and target 100% projection of 148.93 to 165.69 from 159.71 at 176.47 next.

In the bigger picture, up trend from 123.94 (2020 low), as part of the trend from 122.75 (2016 low) is still in progress. Further rise would be seen to 161.8% projection of 122.75 to 156.59 (2018 high) from 123.94 at 178.69. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 169.66; (P) 170.52; (R1) 172.16; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current rally should target 100% projection of 148.93 to 165.69 from 159.71 at 176.47 next. On the downside, break of 168.71 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, up trend from 123.94 (2020 low), as part of the trend from 122.75 (2016 low) is still in progress. Further rise would be seen to 161.8% projection of 122.75 to 156.59 (2018 high) from 123.94 at 178.69. This will now remain the favored case as long as 148.93 support holds.

GBP/JPY’s up trend resumed by breaking through 170.07 last week. Initial bias is now on the upside this week. next target is 100% projection of 148.93 to 165.69 from 159.71 at 176.47. On the downside, break of 168.71 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, up trend from 123.94 (2020 low), as part of the trend from 122.75 (2016 low) is still in progress. Further rise would be seen to 161.8% projection of 122.75 to 156.59 (2018 high) from 123.94 at 178.69. This will now remain the favored case as long as 148.93 support holds.

In the longer term picture, as long as 55 month EMA (now at 151.36) holds, rise from 122.75 could still extend higher at a later stage. Next target is 195.86 (2015 high).

Daily Pivots: (S1) 168.53; (P) 169.39; (R1) 170.05; More…

Intraday bias in GBP/JPY stays neutral for the moment, but further rally is expected with 164.95 support intact. On the upside, firm break of 170.57 will confirm larger up trend resumption. However, break of 164.95 minor support will turn bias back to the downside for 159.71 support instead.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 168.43; (P) 169.19; (R1) 170.53; More…

GBP/JPY edged higher to 170.57 but quickly retreated Intraday bias stays neutral first. On the upside, firm break of 170.57 will confirm larger up trend resumption. However, break of 164.95 minor support will turn bias back to the downside for 159.71 support instead.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 168.43; (P) 169.19; (R1) 170.53; More…

GBP/JPY is staying below 170.07 and intraday bias remains neutral. But further rally is still in favor. Firm break of 170.07 will confirm up trend resumption. Next target is 100% projection of 148.93 to 165.69 from 159.71 at 176.47. Nevertheless, break of 164.95 minor support will turn bias back to the downside for 159.71 support instead.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 165.84; (P) 167.82; (R1) 170.12; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 170.07 is extending. In case of another retreat, downside should be contained above 159.71 support to bring another rally. On the upside, sustained trading above 169.10 resistance will confirm larger up trend resumption.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 164.65; (P) 167.12; (R1) 169.25; More…

Intraday bias in GBP/JPY remains neutral for the moment. Some consolidations could be seen but downside should be contained above 159.71 support to bring another rally. On the upside, sustained trading above 169.10 resistance will confirm larger up trend resumption.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

GBP/JPY rose to as high as 170.07 last week, and met 61.8% projection of 148.93 to 165.69 from 159.71 at 170.06. But subsequent retreat indicates it has already turned into consolidation. initial bias is neutral this week first. Downside should be contained above 159.71 support to bring another rally. Break of 170.07, and sustained trading above 169.10 will confirm larger up trend resumption.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

In the longer term picture, as long as 55 month EMA (now at 151.18) holds, rise from 122.75 could still extend higher at a later stage. Next target is 195.86 (2015 high).

Daily Pivots: (S1) 167.48; (P) 168.61; (R1) 169.78; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 170.07 is still in progress. Downside of retreat should be contained above 159.71 support to bring another rally. Break of 170.07 will target 100% projection of 148.93 to 165.69 from 159.71 at 176.47.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 146.37; (P) 146.83; (R1) 147.43; More….

EUR/JPY is staying in consolidation from 147.24 and intraday bias remains neutral. Downside of retreat should be contained by 144.06 resistance turned support On the upside, break of 147.24 will resume larger up trend. Next target is 100% projection of 133.38 to 145.62 from 137.32 at 149.56, which is close to 149.76 long term resistance.

In the bigger picture, the up trend from 114.42 (2020 low) is still in progress for 149.75 (2014 high). Decisive break there will pave the way to 161.8% projection of 114.42 to 134.11 from 124.37 at 156.22. This will now remain the favored case as long as 137.32 support holds.

Daily Pivots: (S1) 167.41; (P) 168.40; (R1) 169.15; More…

Intraday bias in GBP/JPY is turned neutral first as consolidation from 170.07 is extending. Downside of retreat should be contained above 159.71 support to bring another rally. Break of 170.07 will target 100% projection of 148.93 to 165.69 from 159.71 at 176.47

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 167.96; (P) 168.89; (R1) 169.87; More…

Intraday bias in GBP/JPY stays on the upside despite some loss of upside momentum. Firm break of 61.8% projection of 148.93 to 165.69 from 159.71 at 170.06 will target 100% projection at 176.47. On the downside, below 165.00 minor support will turn Intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 167.24; (P) 168.67; (R1) 170.76; More…

Intraday bias in GBP/JPY stays on the upside as up trend is resuming. Firm break of 61.8% projection of 148.93 to 165.69 from 159.71 at 170.06 will target 100% projection at 176.47. On the downside, below 165.00 minor support will turn Intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 165.15; (P) 166.18; (R1) 167.34; More…

GBP?JPY’s rally continues today and intraday bias stays on the upside for 169.10. Firm break there will target 61.8% projection of 148.93 to 165.69 from 159.71 at 170.06, and then 100% projection at 176.47. On the downside, below 165.00 minor support will turn Intraday bias neutral first.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 165.15; (P) 166.18; (R1) 167.34; More…

Intraday in GBP/JPY remains on the upside for the moment retest 169.10 resistance. Firm break there will confirm larger up trend resumption. Next near term target is 61.8% projection of 148.93 to 165.69 from 159.71 at 170.06, and then 100% projection at 176.47. On the downside, break of 159.71 support will extend the corrective pattern from 169.10 with another falling leg.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

GBP/JPY’s rise from 148.93 resumed last week and initial bias stays on the upside this week for 169.10 resistance. Firm break there will confirm larger up trend resumption. Next near term target is 61.8% projection of 148.93 to 165.69 from 159.71 at 170.06, and then 100% projection at 176.47. On the downside, break of 159.71 support will extend the corrective pattern from 169.10 with another falling leg.

In the bigger picture, current development suggests that up trend from 123.94 (2020 low) is still in progress. Sustained break of 61.8% retracement of 195.86 (2015 high) to 122.75 (2016 low) at 167.93 will pave the way to retest 195.86 high. This will now remain the favored case as long as 148.93 support holds.

In the longer term picture, as long as 55 month EMA (now at 151.18) holds, rise from 122.75 could still extend higher at a later stage. Next target is 195.86 (2015 high).

Daily Pivots: (S1) 163.67; (P) 165.48; (R1) 168.63; More…

GBP/JPY’s rise from 148.93 resumed by breaking through 165.69 resistance. Intraday bias is back on the upside for 169.10 high. Decisive break there will confirm larger up trend resumption. For now, further rally will remain in favor as long as 159.71 support holds, in case of retreat.

In the bigger picture, strong support from 38.2% retracement of 123.94 to 169.10 at 151.84 suggests that price actions from 169.10 are developing into a corrective pattern only. That is, rise from 123.94 (2020 low) should resume at a later stage. This will now remain the favored case as long as 148.93 support holds.

Daily Pivots: (S1) 158.96; (P) 160.82; (R1) 161.90; More…

Intraday bias in GBP/JPY stays neutral at this point. On the downside, below 159.41 minor support will turn bias back to the downside for 148.93 again. However, firm break of 169.10 will confirm resumption of larger up trend. Also, while further rise could be seen, strong resistance might be seen from 169.10 high to limit upside, at least on first attempt.

In the bigger picture, strong support from 38.2% retracement of 123.94 to 169.10 at 151.84 suggests that price actions from 169.10 are developing into a corrective pattern only. That is, rise from 123.94 (2020 low) should resume at a later stage. This will now remain the favored case as long as 148.93 support holds.