Wed, Oct 16, 2019 @ 05:12 GMT

GBP/JPY Daily Outlook

Daily Pivots: (S1) 127.09; (P) 127.67; (R1) 128.66; More…

GBP/JPY recovers strongly ahead of 126.54 support. Intraday bias remains neutral as consolidation is extending. Break of 130.69 will bring stronger rebound. But upside should be by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, firm break of 126.54 will resume larger down trend to 122.61 support next.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 127.58; (P) 128.45; (R1) 129.02; More…

Focus is now on 126.54 support with today’s sharp fall. Firm break there will resume larger down trend to 122.61 support next. On the upside, break of 130.69 will bring another rebound before completing consolidation from 126.54.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 128.97; (P) 129.40; (R1) 129.70; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 126.54 is still in progress. On the upside, above 130.69 will bring stronger rebound. But upside should be by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, break of 126.54 will resume larger down trend to 122.61 support next.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Weekly Outlook

GBP/JPY stayed in consolidation from 126.54 last week and outlook is unchanged. Initial bias remains neutral this week first. On the upside, above 130.69 will bring stronger rebound. But upside should be by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, break of 126.54 will resume larger down trend to 122.61 support next.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

In the longer term picture, for now, we’re treating price actions from 122.36 as a corrective pattern. Hence, strong support could be seen at 122.36 to bring rebound before the pattern completes. However, sustained break will raise the chance of resuming long term down trend from 251.09 (2007 high). Next downside target will be 61.8% projection of 195.86 to 122.36 from 156.59 at 111.16.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 129.14; (P) 129.59; (R1) 130.21; More…

No change in GBP/JPY’s outlook as consolidation from 126.54 is extending. Intraday bias remains neutral first. On the upside, break of 130.69 will extend the recovery. But upside should be limited by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, break of 126.54 will resume larger down trend to 122.61 support next.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2148; (P) 1.2220; (R1) 1.2284; More….

No change in GBP/USD’s outlook. Corrective recovery from 1.2014 could have completed at 1.2309 already. Deeper fall should be seen to retest 1.2014 first. Break will resume larger down trend to 1.1946 low. On the upside, above 1.2309 will extend the recovery. But upside should be limited by 38.2% retracement of 1.3381 to 1.2014 at 1.2536 to bring down trend resumption.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 128.62; (P) 129.35; (R1) 130.21; More…

GBP/JPY is staying in consolidation from 126.54 and intraday bias remains neutral for the moment. On the upside, break of 130.69 will extend the recovery. But upside should be limited by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, break of 126.54 will resume larger down trend to 122.61 support next.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 129.19; (P) 129.79; (R1) 130.57; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 126.54 might extend. On the upside, break of 130.69 will extend the recovery. But upside should be limited by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, break of 126.54 will resume larger down trend to 122.61 support next.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 128.54; (P) 129.34; (R1) 130.47; More…

GBP/JPY’s consolidation from 126.54 is still in progress and intraday bias remains neutral first. Break of 130.69 will extend the recovery. But upside should be limited by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, break of 126.54 will resume larger down trend to 122.61 support next.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 128.83; (P) 129.70; (R1) 130.39; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 126.54 looks set to extend further. In case of another rise through 130.69, upside should be limited by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, break of 126.54 will resume larger down trend to 122.61 support next.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Weekly Outlook

GBP/JPY’s corrective recovery from 126.54 extended higher last week. Further rise could be seen this week with 128.75 minor support intact. But upside should be limited by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, break of 128.75 minor support will turn intraday bias back to the downside for retesting 126.54.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

In the longer term picture, for now, we’re treating price actions from 122.36 as a corrective pattern. Hence, strong support could be seen at 122.36 to bring rebound before the pattern completes. However, sustained break will raise the chance of resuming larger down trend from 251.09 (2007 high). Next downside target will be 61.8% projection of 195.86 to 122.36 from 156.59 at 111.16.

   

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 129.23; (P) 129.97; (R1) 131.17; More…

Intraday bias in GBP/JPY remains mildly on the upside. Recovery from 126.54 short term bottom would target 4 hour EMA (now at 133.21). Upside should be limited by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, break of 128.75 minor support will turn intraday bias back to the downside for retesting 126.54 instead.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Mid-Day Outlook

Daily Pivots: (S1) 128.85; (P) 129.26; (R1) 129.63; More…

GBP/JPY’s rebound from 126.54 extends higher and break of 130.06 suggests short term bottoming. Intraday bias is back on the upside for 55 day EMA (now at 133.28). Upside should be limited by 38.2% retracement of 148.87 to 126.54 at 135.07 to bring down trend resumption. On the downside, break of 128.75 minor support will turn intraday bias back to the downside for retesting 126.54 instead.

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 128.85; (P) 129.26; (R1) 129.63; More…

Intraday bias in GBP/JPY remains neutral for the moment. Consolidation from 126.54 might extend further. But outlook remains bearish with 130.06 minor resistance intact. On the downside, break of 126.54 will extend larger down trend to 122.36 low. However, break of 130.06 will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 133.28).

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 128.50; (P) 129.06; (R1) 129.86; More…

Intraday bias in GBP/JPY remains neutral at this point and consolidation from 126.54 might extend. But outlook remains bearish with 130.06 minor resistance intact. On the downside, break of 126.54 will extend larger down trend to 122.36 low. However, break of 130.06 will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 133.58).

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 129.00; (P) 129.27; (R1) 129.56; More…

No change in GBP/JPY’s outlook. Intraday bias remains neutral and consolidation from 126.54 might extend. But outlook remains bearish with 130.06 minor resistance intact. On the downside, break of 126.54 will extend larger down trend to 122.36 low. However, break of 130.06 will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 133.73).

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 128.40; (P) 128.99; (R1) 129.81; More…

GBP/JPY is staying in consolidation from 126.54 and intraday bias remains neutral first. As long as 130.06 minor resistance holds, further decline is still expected. Break of 126.54 will extend larger down trend to 122.36 low. However, break of 130.06 will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 133.73).

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Weekly Outlook

GBP/JPY edged lower to 126.54 last week but turned into consolidation since then. Initial bias is neutral this week first. As long as 130.06 minor resistance holds, further decline is still expected. Break of 126.54 will extend larger down trend to 122.36 low. However, break of 130.06 will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 134.08).

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

In the longer term picture, for now, we’re treating price actions from 122.36 as a corrective pattern that could extend with another rebound. Hence, strong support could be seen at 122.36 to bring rebound. However, sustained break will raise the chance of resuming larger down trend from 251.09 (2007 high). Next downside target will be 61.8% projection of 195.86 to 122.36 from 156.59 at 111.16.

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 127.55; (P) 128.27; (R1) 129.06; More…

GBP/JPY is staying in consolidation from 126.54 and intraday bias remains neutral. As long as 130.06 minor resistance holds, further decline is still expected. Break of 126.54 will extend larger down trend to 122.36 low. However, break of 130.06 will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 133.88).

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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GBP/JPY Daily Outlook

Daily Pivots: (S1) 127.21; (P) 127.99; (R1) 128.47; More…

Intraday bias in GBP/JPY remains neutral for consolidation above 126.54. As long as 130.06 minor resistance holds, further decline is still expected. Break of 126.54 will extend larger down trend to 122.36 low. However, break of 130.06 will indicate short term bottoming. Stronger rebound should be seen to 55 day EMA (now at 134.10).

In the bigger picture, outlook remains clearly bearish with GBP/JPY staying well below 55 week and 55 month EMA. Medium term fall from 156.59 (2018 high) is still in progress. Next target is 122.36 (2016 low). We’d be cautious on bottoming there. But break of 135.66 resistance is needed to be the first sign of reversal. Sustained break of 122.36 will target next key level at 116.83 (2011 low).

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