Daily Pivots: (S1) 151.25; (P) 151.75; (R1) 152.26; More…

Intraday bias in GBP/JPY remains neutral first. The cross is now pressing 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next and channel resistance. Break of 147.38 support will indicate short term topping and turn bias to the downside for correction. 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.

GBP/JPY’s up trend continued last week but lost momentum after hitting 152.21. Initial bias is turned neutral first. The cross is now pressing 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next and channel resistance. Break of 147.38 support will indicate short term topping and turn bias to the downside for correction. 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.

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) 151.21; (P) 151.52; (R1) 152.14; More…

GBP/JPY’s rally is still in progress and intraday bias stays on the upside. Sustained trading above 100% projection of 123.94 to 142.71 from 133.03 at 151.80 and channel resistance (from 123.94 low) at 151.81 will indicate upside acceleration. Next target is key resistance at 156.59. On the downside, break of 150.54 minor support will turn bias back to the downside for correction.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 150.32; (P) 150.80; (R1) 151.17; More…

GBP/JPY’s rally is still in progress for 100% projection of 123.94 to 142.71 from 133.03 at 151.80. That would be close to channel resistance (from 123.94 low) at 151.77. We’d be cautious on topping from there. But decisive break of this level will indicate upside acceleration for next key resistance at 156.59. Though, break of 147.38 support will indicate short term topping and bring deeper correction.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 149.89; (P) 150.30; (R1) 150.92; More…

GBP/JPY reaches as high as 151.20 so far today as recent rally continues. Intraday bias stays on the upside for 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. That would be close to channel resistance (from 123.94 low) at 151.77. We’d be cautious on topping from there. But decisive break of this level will indicate upside acceleration for next key resistance at 156.59. Though, break of 147.38 support will indicate short term topping and bring deeper correction.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 149.39; (P) 149.88; (R1) 150.39; More…

GBP/JPY’s upside momentum is diminishing mildly as seen in 4 hour MACD. But further rise is expected. as long as 147.38 support holds. Current up trend from 123.94 should target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, however, break of 147.38 support should now indicate short term topping. Deeper correction would seen back to 55 day EMA (now at 144.42).

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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 breached 150.39 last week but could sustain above there. Still, further rise is expected this week as long as 147.38 support holds. Current up trend form 123.94 should target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, however, break of 147.38 support should now indicate short term topping. Deeper correction would seen back to 55 day EMA (now at 144.42).

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 149.14; (P) 149.93; (R1) 150.82; More…

GBP/JPY’s break of 150.39 suggests rally resumption. Intraday bias is back on the upside for 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, however, break of 147.38 support should now indicate short term topping. Deeper correction would seen back to 55 day EMA (now at 144.42).

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 148.87; (P) 149.28; (R1) 149.71; More…

GBP/JPY is still bounded in consolidation from 150.39 and intraday bias remains neutral first. Further rally is expected as long as 146.39 minor support holds. Break of 150.39 will target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. However, firm break of 146.39 will confirm short term topping, and bring deeper pull back to 55 day EMA (now at 144.19).

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 148.31; (P) 148.75; (R1) 149.39; More…

Intraday bias in GBP/JPY remains neutral first and consolidation from 150.39 is extending. Further rally is expected as long as 146.39 minor support holds. Break of 150.39 will target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. However, firm break of 146.39 will confirm short term topping, and bring deeper pull back to 55 day EMA (now at 144.00).

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 148.26; (P) 148.78; (R1) 149.22; More…

GBP/JPY is staying in consolidation from 150.39 and intraday bias remains neutral first. Further rally is expected as long as 146.39 minor support holds. Break of 150.39 will target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. However, firm break of 146.39 will confirm short term topping, and bring deeper pull back to 55 day EMA (now at 143.78).

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 147.48; (P) 148.33; (R1) 149.24; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 150.39. Still, further rally is expected as long as 146.39 minor support holds. Break of 150.39 will target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. However, firm break of 146.39 will confirm short term topping, and bring deeper pull back to 55 day EMA (now at 143.63).

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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 rose further to 150.39 last week but formed a temporary top and retreated. Initial bias is neutral this week for some consolidations first. Further rise is expected as long as 146.39 minor support holds. Break of 150.39 will target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. However, firm break of 146.39 will confirm short term topping, and bring deeper pull back to 55 day EMA (now at 143.43).

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 148.08; (P) 149.27; (R1) 150.05; More…

Intraday bias in GBP/JPY is turned neutral with current deep retreat. Some consolidations could be seen below 150.39 temporary top. Further rise is still expected as long as 127.48 resistance turned support holds. Break of 129.96 will target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next.

In the bigger picture, rise from 123.94 is seen as the third leg of the sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 148.67; (P) 149.40; (R1) 150.39; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current up trend from 123.94 should now target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, below 147.52 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 sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 147.97; (P) 148.29; (R1) 148.91; More…

GBP/JPY’s rally accelerates to as high as 150.95 so far, taking out 147.95 medium term resistance without much hesitation. Intraday bias stays on the upside. Current up trend from 123.94 should now target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, below 147.52 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 sideway pattern from 122.75 (2016 low). With 147.95 resistance taken out, further rally would now be seen to 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) 147.43; (P) 147.87; (R1) 148.18; More…

Intraday bias in GBP/JPY stays on the upside at this point. Sustained break of 147.95 resistance will extend the up trend from 123.94 to 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. Nevertheless, break of 146.39 support will indicate short term topping and 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 sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

Daily Pivots: (S1) 147.23; (P) 147.70; (R1) 148.10; More…

Intraday bias in GBP/JPY remains on the upside at this point. Sustained break of 147.95 resistance will extend the up trend from 123.94 to 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. Nevertheless, break of 146.39 support will indicate short term topping and 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 sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.

GBP/JPY’s up trend extended to as high as 148.13 last week and hit 147.95 structural resistance already. Further rise is expected this week as long as 146.39 support holds. Sustained break of 147.95 will target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. Nevertheless, break of 146.39 support will indicate short term topping and 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 sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of 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) 146.88; (P) 147.34; (R1) 148.12; More…

GBP/JPY’s rally resumes after brief retreat and intraday bias is back on the upside. Sustained break of 147.95 structural resistance will carry larger bullish implications. Up trend from 123.94 should then target 100% projection of 123.94 to 142.71 from 133.03 at 151.80 next. On the downside, though, break of 146.39 minor 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 sideway pattern from 122.75 (2016 low). Break of 147.95 will target 156.59 resistance (2018 high). On the downside, break of 133.03 support is needed to confirm completion of the rise from 123.94. Otherwise, further rise will remain in favor even in case of pull back.