Daily Pivots: (S1) 149.62; (P) 150.36; (R1) 150.82; More…

Intraday bias in GBP/JPY remains neutral first. As long as 148.50 support holds, consolidation from 153.59 should be relatively brief. On the upside, break of 153.39 will resume the whole rise from 123.94 to 156.59 long term resistance next. However, firm break of 148.50 will bring deeper correction to channel support (now at 142.45).

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 150.34; (P) 151.21; (R1) 151.75; More…

Intraday bias in GBP/JPY remains neutral at this point. Consolidation from 153.39 could extend further. But outlook will stay bullish as long as 148.50 support holds. On the upside, break of 153.39 will resume the whole rise from 123.94 to 156.59 long term resistance next.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 151.17; (P) 152.30; (R1) 152.89; More…

Intraday bias in GBP/JPY remains neutral for the moment. Some consolidations could be seen below 153.39. But outlook will stay bullish as long as 148.50 support holds. On the upside, break of 153.39 will resume the whole rise from 123.94 to 156.59 long term resistance next.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 152.94; (P) 153.16; (R1) 153.42; More…

Break of 152.27 minor support suggests temporary topping at 153.39. Intraday bias in GBP/JPY is turned neutral for some consolidations. But outlook will stay bullish as long as 148.50 support holds. On the upside, break of 153.39 will resume the whole rise from 123.94 to 156.59 long term resistance next.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 152.94; (P) 153.16; (R1) 153.42; More…

Intraday bias in GBP/JPY stays mildly on the upside for the moment. Current rise from 123.94 should target 156.59 long term resistance next. On the downside, below 152.27 minor support will turn intraday bias neutral. But outlook will stay bullish as long as 148.50 support holds.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 152.79; (P) 153.00; (R1) 153.29; More…

Intraday bias in GBP/JPY remains mildly on the upside at this point. Current rise from 123.94 should target 156.59 long term resistance next. On the downside, below 152.27 minor support will turn intraday bias neutral. But outlook will stay bullish as long as 148.50 support holds.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 151.83; (P) 152.31; (R1) 153.08; More…

GBP/JPY’s break of 152.52 resistance indicate resumption of whole up trend from 123.94. Intraday bias stays on the upside for 156.59 long term resistance next. On the downside, below 151.16 minor support will turn intraday bias neutral. But outlook will stay bullish as long as 148.50 support holds.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 151.14; (P) 151.55; (R1) 152.02; More…

Intraday bias in GBP/JPY stays mildly on the upside for retesting 152.52 high. Break there will resume whole up trend from 123.94. Next target is 156.59 long term resistance. In case the consolidation extends with another fall, we’d continue to expect strong support from 148.09 cluster support ( 23.6% retracement of 133.03 to 152.52 at 147.92) to contain downside and bring rebound.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 150.56; (P) 151.19; (R1) 151.78; More…

Intraday bias in GBP/JPY stays on the upside for retesting 152.52 high. Break there will resume whole up trend from 123.94. Next target is 156.59 long term resistance. In case the consolidation extends with another fall, we’d continue to expect strong support from 148.09 cluster support ( 23.6% retracement of 133.03 to 152.52 at 147.92) to contain downside and bring rebound.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 150.26; (P) 150.90; (R1) 151.93; More…

Intraday bias in GBP/JPY remains on the upside for retesting 152.52 high. Break there will resume whole up trend from 123.94. Next target is 156.59 long term resistance. In case the consolidation extends with another fall, we’d continue to expect strong support from 148.09 cluster support ( 23.6% retracement of 133.03 to 152.52 at 147.92) to contain downside and bring rebound.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

GBP/JPY’s strong rebound last week suggests that pull back from 152.52 has completed at 148.50, ahead of 148.09 cluster support ( 23.6% retracement of 133.03 to 152.52 at 147.92) as expected. Initial bias is mildly on the upside for retesting 152.52 high first. Break there will resume whole up trend from 123.94. Next target is 156.59 long term resistance. In case the consolidation extends with another fall, we’d continue to expect strong support from 147.92/148.09 to contain downside and bring rebound.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

In the longer term picture, the strong break of 55 months EMA (now at 143.95) is 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).

Daily Pivots: (S1) 149.13; (P) 149.60; (R1) 150.42; More…

GBP/JPY’s breach of 150.31 minor resistance suggests that correction from 152.52 has completed at 148.50, ahead of 148.09 cluster support (23.6% retracement of 133.03 to 152.52 at 147.92) as expected. Intraday bias is back on the upside for retesting 152.52 high first. In case of another fall, we’d still expect strong support from 147.92/148.09 to contain downside. But, sustained break of 148.09 will bring deeper correction to 38.2% retracement at 145.07.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 148.38; (P) 148.91; (R1) 149.29; More…

Outlook in GBP/JPY is unchanged. Correction from 152.52 short term top might extend lower. But downside should be contained by 148.09 cluster support (23.6% retracement of 133.03 to 152.52 at 147.92) to bring rebound. On the upside, break of 150.31 minor resistance will bring retest of 152.52. However, sustained break of 148.09 will bring deeper correction to 38.2% retracement at 145.07.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 148.63; (P) 149.77; (R1) 150.47; More…

Intraday bias in GBP/JPY stays on the downside as correction from 152.52 short term top extends. Deeper fall could be seen to 148.09 cluster support ( 23.6% retracement of 133.03 to 152.52 at 147.92). But downside should be contained there to bring rebound. On the upside, break of 150.31 minor resistance will bring retest of 152.52. However, sustained break of 148.09 will bring deeper correction to 38.2% retracement at 145.07.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 150.47; (P) 150.70; (R1) 151.11; More…

GBP/JPY is staying in correction from 152.52 short term top. Deeper fall could be seen to 148.09 cluster support ( 23.6% retracement of 133.03 to 152.52 at 147.92). But downside should be contained there to bring rebound. Nevertheless, for now, risk will stay mildly on the downside for more pull back as long as 152.52 holds, in case of recovery.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 150.40; (P) 151.12; (R1) 151.66; More…

Intraday bias in GBP/JPY remains mildly on the downside at this point. Correction from 152.52 short term top could extend to 148.09 cluster support ( 23.6% retracement of 133.03 to 152.52 at 147.92). But downside should be contained there to bring rebound. Nevertheless, for now, risk will stay mildly on the downside for more pull back as long as 152.52 holds, in case of recovery.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

GBP/JPY edged higher to 152.52 last week but retreated since then. Breach of 150.76 minor support suggests short term topping, on bearish divergence condition in 4 hour MACD, after hitting medium term channel resistance. Intraday bias is mildly on the downside this week for pull back. But downside should be contained by 148.09 cluster support ( 23.6% retracement of 133.03 to 152.52 at 147.92) to bring rebound. For now, risk will stay mildly on the downside for more pull back as long as 152.52 holds, in case of recovery.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

In the longer term picture, the strong break of 55 months EMA (now at 143.95) is a 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).

Daily Pivots: (S1) 151.28; (P) 151.92; (R1) 152.37; More…

Further rise is expected in GBP/JPY as long as 150.76 support holds. Current rise from 123.94 would target 156.59 long term resistance. However, considering bearish divergence condition in 4 hour MACD, break of 150.76 support will indicate short term topping, and turn bias to the downside for pull back.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 151.56; (P) 151.82; (R1) 152.29; More…

GBP/JPY’s rally resumed through 152.21 temporary top. Intraday bias is back on the upside. Current up trend from 123.94 might be accelerating again to 156.59 long term resistance next. However, considering bearish divergence condition in 4 hour MACD, break of 150.76 support will indicate short term topping, and turn bias to the downside for pull back.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 150.90; (P) 151.33; (R1) 151.88; More…

Intraday bias in GBP/JPY remains neutral and outlook is unchanged. The cross is now pressing 100% projection of 123.94 to 142.71 from 133.03 at 151.80 and channel resistance. Firm break of 150.43 minor support will indicate short term topping, on bearish divergence condition in 4 hour MACD. Intraday bias will be turned to the downside for correction to 55 day EMA (now at 146.16). Nevertheless, sustained trading above 151.80 will indicate upside acceleration. Next target is key resistance at 156.59.

In the bigger picture, rise from 123.94 is seen as the third leg of the pattern from 122.75 (2016 low). Next target is 156.59 resistance (2018 high). Sustained break there should confirm long term bullish trend reversal. On the downside, break of 142.71 resistance turned support is needed to be the first sign of completion of the rise from 123.94. Otherwise, outlook will remain bullish even in case of deep pull back.