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.

Daily Pivots: (S1) 153.77; (P) 154.30; (R1) 154.91; More…

Intraday bias in GBP/JPY remains on the upside and outlook is unchanged. As noted before, corrective pattern from 156.05 should have completed after defending 149.03 key support. Further rise would be seen to retest 156.05 high. 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). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 153.04; (P) 153.77; (R1) 154.81; More…

Intraday bias in GBP/JPY remains on the upside at this point. As noted before, corrective pattern from 156.05 should have completed after defending 149.03 key support. Further rise would be seen to retest 156.05 high. On the downside, below 152.69 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). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 152.23; (P) 152.58; (R1) 153.21; More…

GBP/JPY’s rally continues today and hits as high as 153.73 so far. As noted before, corrective pattern from 156.05 should have completed after defending 149.03 key support. Intraday bias stays on the upside for retesting 156.05 high. On the downside, break of 152.13 resistance turned support is needed to indicate completion of the rise from 149.20. Otherwise, we’d expect further rally ahead, even in case of retreat.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

GBP/JPY’s strong rally and break of 152.54 resistance last week argues that corrective pattern from 156.05 has completed already. Initial bias is mildly on the upside this week first. Further rally would be seen back to retest 156.05. On the downside, below 152.01 minor support will dampen the bullish case and turn intraday bias neutral again.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

In the longer term picture, the strong break of 55 months EMA was an early sign of long term bullish reversal. Firm break of 156.69 resistance should now confirm the start of an up trend for 195.86 (2015 high). However, rejection by 156.69 will invalidate the bullish signal and keep long term outlook neutral first.

Daily Pivots: (S1) 151.33; (P) 151.71; (R1) 152.38; More…

Intraday bias in GBP/JPY stays neutral first. On the upside, firm break of 152.54 will suggest that whole correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, however, sustained break of 149.03 key support will carry larger bearish implication and target 143.78 fibonacci level.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 150.76; (P) 151.46; (R1) 152.10; More…

Intraday bias in GBP/JPY in is turned neutral as it retreated ahead of 152.54 resistance. Some more sideway trading could still be seen. On the upside, firm break of 152.54 will suggest that whole correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, however, sustained break of 149.03 key support will carry larger bearish implication and target 143.78 fibonacci level.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 151.08; (P) 151.56; (R1) 152.38; More…

Intraday bias in GBP/JPY stays mildly on the upside for 152.54 resistance first. Firm break there will suggest that whole correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, however, sustained break of 149.03 key support will carry larger bearish implication and target 143.78 fibonacci level.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 150.27; (P) 150.90; (R1) 151.58; More…

Intraday bias in GBP/JPY is now mildly on the upside for 152.54 resistance. Firm break there will suggest that whole correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, however, sustained break of 149.03 key support will carry larger bearish implication and target 143.78 fibonacci level.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 149.53; (P) 150.14; (R1) 151.05; More…

GBP/JPY’s break of 150.92 minor resistance suggests that it has defended 149.03 key support again. Intraday bias is back on the upside for 152.54 resistance. Firm break there will suggest that correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, however, sustained break of 149.03 key support will carry larger bearish implication and target 143.78 fibonacci level.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 149.53; (P) 150.14; (R1) 151.05; More…

Intraday bias in GBP/JPY remains neutral at this point. On the upside, above 150.92 minor resistance will turn bias back to the upside for 152.54. Firm break there will suggest that correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, however, sustained break of 149.03 key support will carry larger bearish implication and target 13.78 fibonacci level.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

GBP/JPY flip-flopped in range of 148.93/152.54 last week. Initial bias is neutral this week first. On the upside, above 150.92 minor resistance will turn bias back to the upside for 152.54. Firm break there will suggest that correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, however, sustained break of 149.03 key support will carry larger bearish implication and target 13.78 fibonacci level.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59 (2018 high). Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

In the longer term picture, the strong break of 55 months EMA was an early sign of long term bullish reversal. Firm break of 156.69 resistance should now confirm the start of an up trend for 195.86 (2015 high). However, rejection by 156.69 will invalidate the bullish signal and keep long term outlook neutral first.

Daily Pivots: (S1) 149.47; (P) 150.22; (R1) 150.62; More…

Intraday bias in GBP/JPY remains on the downside for retesting 149.03 key support level. Firm break there will carry larger bearish implications. Deeper fall would be seen towards 143.78 medium term fibonacci level. On the upside, above 150.92 minor resistance will turn bias back to the upside for 152.54 resistance instead.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59. Fall from 156.05 would at least be correcting the whole rise from 123.94 (2020 low). Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 149.77; (P) 150.49; (R1) 151.05; More…

Intraday bias in GBP/JPY is mildly on the downside for retesting 149.03 key support level. Firm break there will carry larger bearish implications. On the upside, firm break of 152.82 will suggest that correction from 156.05 has completed, and turn near term outlook bullish for retesting this high.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59. Fall from 156.05 would be at least correcting the whole rise from 123.94. Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 150.15; (P) 151.36; (R1) 152.17; More…

GBP/JPY’s break of 150.97 minor support argues that rebound from 148.93 might have completed. Intraday bias is back on the downside for 149.03 key support again. Firm break there will carry larger bearish implications. On the upside, firm break of 152.82 will suggest that correction from 156.05 has completed, and turn near term outlook bullish for retesting this high.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59. Fall from 156.05 would be at least correcting the whole rise from 123.94. Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 151.43; (P) 151.82; (R1) 152.50; More…

Intraday bias in GBP?JPY stays mildly on the upside at this point. Rise from 148.93 should target 152.82 resistance first. Sustained break there will suggest that correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, break of 150.97 minor support will turn bias back to the downside for 149.03 key support instead.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59. Fall from 156.05 would be at least correcting the whole rise from 123.94. Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 151.04; (P) 151.38; (R1) 151.76; More…

Intraday bias in GBP/JPY remains mildly on the upside, as rebound form 148.93 would target 152.82 resistance. Sustained break there will suggest that correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, break of 150.70 minor support will turn bias back to the downside for 149.03 key support instead.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59. Fall from 156.05 would be at least correcting the whole rise from 123.94. Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

GBP/JPY defended 149.03 key support and rebounded strongly last week. The development suggests that fall from 152.28 has completed. Initial bias stays mildly on the upside for 152.82 resistance first. Sustained break there will suggest that correction from 156.05 has completed, and turn near term outlook bullish for retesting this high. On the downside, break of 150.70 minor support will turn bias back to the downside for 149.03 key support instead.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59. Fall from 156.05 would be at least correcting the whole rise from 123.94. Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

In the longer term picture, the strong break of 55 months EMA was an early sign of long term bullish reversal. Firm break of 156.69 resistance should now confirm the start of an up trend for 195.86 (2015 high). However, rejection by 156.69 will invalidate the bullish signal and keep long term outlook neutral first.

Daily Pivots: (S1) 150.07; (P) 150.78; (R1) 152.09; More…

Intraday bias in GBP/JPY is mildly on the upside for 152.82 resistance first. Sustained break there will argue that whole consolidative pattern from 156.05 has completed and bring retest of this high. On the downside, decisive break of 148.43/149.16 key support zone will resume whole fall from 156.05 to 143.78 fibonacci level.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59. Fall from 156.05 would be at least correcting the whole rise from 123.94. Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.

Daily Pivots: (S1) 149.05; (P) 149.50; (R1) 149.99; More…

GBP/JPY’s break of 150.80 minor resistance suggests that fall from 152.82 has completed, after defending 149.03 key support again. Intraday bias is back on the upside for 152.82 resistance first. Sustained break there will argue that whole consolidative pattern from 156.05 has completed and bring retest of this high. On the downside, again, decisive break of 148.43/149.16 key support zone will resume whole fall from 156.05 to 143.78 fibonacci level.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). As long as 149.03 support holds, such rise would still resume at a later stage. However, sustained break of 149.03 support will indicate rejection by 156.59. Fall from 156.05 would be at least correcting the whole rise from 123.94. Deeper fall would be seen back 38.2% retracement of 123.94 to 156.05 at 143.78 first.