Daily Pivots: (S1) 155.33; (P) 155.70; (R1) 156.44; More…

GBP/JPY is staying in correction from 158.19 and outlook is unchanged. Deeper fall cannot be ruled out, but downside should be contained above 153.66 support to bring rebound. On the upside, above 158.19 will resume larger up trend from 123.94. Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

Daily Pivots: (S1) 154.58; (P) 155.23; (R1) 155.80; More…

No change in GBP/JPY’s outlook as correction from 158.19 is still extending. Deeper fall could be seen but downside should be contained above 153.66 support to bring rebound. On the upside, above 158.19 will resume larger up trend from 123.94. Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

Daily Pivots: (S1) 155.41; (P) 155.96; (R1) 156.30; More…

GBP/JPY’s correction from 158.19 is extending lower and deeper fall would be seen. But downside should be contained above 153.66 support to bring rebound. On the upside, above 158.19 will resume larger up trend from 123.94. Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

Daily Pivots: (S1) 155.53; (P) 156.32; (R1) 156.84; More…

Intraday bias in GBP/JPY remains neutral for the moment. Correction from 158.19 could extend lower. But downside should be contained above 153.66 support to bring rebound. On the upside, above 158.19 will resume larger up trend from 123.94. Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

GBP/JPY extended the corrective pattern from 158.19 last week and outlook is unchanged. Initial bias remains neutral this week first. In case of deeper pull back, downside should be contained above 153.66 support to bring rebound. On the upside, above 158.19 will resume larger up trend from 123.94. Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

In the longer term picture, GBP/JPY could have set up a long term up trend already with break of 156.69 resistance, and the stay above 55 month EMA. Current rise from 122.75 could target a test on 195.86 (2015 high).

Daily Pivots: (S1) 156.15; (P) 156.43; (R1) 156.94; More…

No change in GBP/JPY’s outlook as correction from 158.19 could extend lower. But downside should be contained by 153.66 support to bring rebound. On the upside, break of 158.19 will resume larger up trend from 123.94. Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

Daily Pivots: (S1) 155.64; (P) 156.46; (R1) 157.21; More…

Intraday bias in GBP/JPY is mildly on the downside a corrective pull back from 158.19 is extending. Downside should be contained by 153.66 support to bring another rally. On the upside, break of 158.19 will resume larger up trend from 123.94. Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

Daily Pivots: (S1) 156.47; (P) 157.12; (R1) 157.77; More…

Intraday bias in GBP/JPY remains neutral and consolidation from 158.19 could extend further. On the upside, break of 158.19 will resume larger up trend from 123.94. Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

Daily Pivots: (S1) 156.14; (P) 156.48; (R1) 156.91; More…

GBP/JPY recovered after drawing support from 4 hour 55 EMA and intraday bias is turned neutral first. On the upside, break of 158.19 will resume larger up trend from 123.94. Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

Daily Pivots: (S1) 155.51; (P) 156.59; (R1) 157.25; More…

Intraday bias in GBP/JPY is still mildly on the downside as pull back from 158.19 could extend towards 55 day EMA (now at 153.04). On the upside, break of 158.19 will resume larger up trend from 123.94. Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

GBP/JPY rose to 158.19 last week but retreated notably since then. Initial bias is now on the downside this week for pull back towards 55 day EMA (now at 152.90). On the upside, break of 158.19 will resume larger up trend from 123.94.Next target will be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deep pull back.

In the longer term picture, GBP/JPY could have set up a long term up trend already with break of 156.69 resistance, and the stay above 55 month EMA. Current rise from 122.75 could target a test on 195.86 (2015 high).

Daily Pivots: (S1) 156.63; (P) 157.42; (R1) 158.05; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 158.19 temporary top. Such consolidations should be relatively brief as long as 156.58 minor support holds. Break of 158.19 will resume larger up trend to 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72 next. However, break of 156.58 will turn bias to the downside for deeper pull back.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deeper pull back.

Daily Pivots: (S1) 157.31; (P) 157.77; (R1) 158.51; More…

Intraday bias in GBP/JPY is turned neutral with a temporary top in place at 158.19. But consolidations should be relatively brief as long as 156.58 minor support holds. Break of 158.19 will resume larger up trend to 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72 next. However, break of 156.58 will turn bias to the downside for deeper pull back.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deeper pull back.

Daily Pivots: (S1) 157.08; (P) 157.57; (R1) 158.26; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Current up trend from 123.94 should target 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72 next. On the downside, below 156.58 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deeper pull back.

Daily Pivots: (S1) 156.58; (P) 156.98; (R1) 157.34; More…

Outlook in GBP/JPY remains unchanged and intraday bias stays on the upside. Current up trend from 123.94 should target 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72 next. On the downside, below 155.32 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deeper pull back.

Daily Pivots: (S1) 155.84; (P) 156.63; (R1) 157.84; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current up trend from 123.94 should target 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72 next. On the downside, below 155.32 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deeper pull back.

GBP/JPY’s strong rise and break of 156.05 high last week confirms resumption of up trend from 123.94. Initial bias stays on the upside this week for 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72 next. On the downside, below 155.32 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). The stay above 55 week EMA affirms medium term bullishness. Current rise should now target 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. In any case, outlook will remain bullish as long as 148.93 structural support hold, even in case of deeper pull back.

In the longer term picture, GBP/JPY could have set up a long term up trend already with break of 156.69 resistance, and the stay above 55 month EMA. Current rise from 122.75 would target a test on 195.86 (2015 high) next.

Daily Pivots: (S1) 154.80; (P) 155.27; (R1) 155.91; More…

GBP/JPY accelerates up to as high as 157.16 so far today. The break of 156.05/59 key resistance zone confirms resumption of medium term up trend from 123.94. Intraday bias stays on the upside for 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72. On the downside, below 155.32 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Sustained break of 156.59 (2018 high) would affirm the case of long term bullish reversal, and pave the way to 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. For now, this will be the favored case as long as 148.93 structural support holds, even in case of deep pull back.

Daily Pivots: (S1) 154.80; (P) 155.27; (R1) 155.91; More…

GBP/JPY rises to as high as 155.98 so far today and intraday bias stays on the upside. Decisive break of 156.05/59 key resistance zone will carry larger bullish implications. Medium term up trend from 123.94 should then target 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72. On the downside, below 154.93 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low), which is still in progress. Sustained break of 156.59 (2018 high) would affirm the case of long term bullish reversal, and pave the way to 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. For now, this will be the favored case as long as 148.93 structural support holds.

Daily Pivots: (S1) 154.23; (P) 154.60; (R1) 155.07; More…

GBP/JPY’s rally continues today and reaches as high as 155.25 so far. Intraday bias stays on the upside for retesting 156.05 high. Decisive break of 156.05/59 key resistance will carry larger bullish implications. Next target would be 61.8% projection of 136.96 to 156.05 from 148.93 at 160.72. On the downside, below 153.66 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low), which is still in progress. Sustained break of 156.59 (2018 high) would affirm the case of long term bullish reversal, and pave the way to 61.8% retracement 195.86 (2015 high) to 122.75 at 167.93 next. For now, this will be the favored case as long as 148.93 structural support holds.