GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.31; (P) 135.57; (R1) 135.98; More…

GBP/JPY is staying in consolidation from 136.62 and intraday bias remains neutral. Further rally will remain in favor as long as 134.12 support holds. On the upside, break of 136.62 will resume the rebound from 131.68 to 139.73 high. Nevertheless, firm break of 134.12 will suggest completion of the rebound from 131.68. Intraday bias will be turned back to the downside for this support.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.15; (P) 135.66; (R1) 136.31; More…

Intraday bias in GBP/JPY remains neutral for the moment. Further rally will remain in favor as long as 134.12 support holds. On the upside, break of 136.62 will resume the rebound from 131.68 to 139.73 high. Nevertheless, firm break of 134.12 will suggest completion of the rebound from 131.68. Intraday bias will be turned back to the downside for this support.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Weekly Outlook

GBP/JPY edged higher to 136.62 but retreated since then. Initial bias is neutral this week first. But further rally will remain in favor as long as 134.12 support holds. On the upside, break of 136.62 will resume the rebound from 131.68 to 139.73 high. Nevertheless, firm break of 134.12 will suggest completion of the rebound from 131.68. Intraday bias will be turned back to the downside for this support.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

In the longer term picture, repeated rejection by 55 month EMA indicate long term bearishness in the cross. Down trend from 251.09 (2007 high) should eventually resume through 122.75 to 116.83 (2011 low) and below. However, sustained break of 55 month EMA (now at 144.76) will dampen this view and could open up further rise back to 195.86 (2015 high).

GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.75; (P) 136.19; (R1) 136.53; More…

Intraday bias in GBP/JPY is turned neutral again with today’s sharp retreat. Further rise would remain in favor as long as 134.12 support holds. Break of 136.63 will target 139.73 key resistance. However, firm break of 134.12 will suggest completion of the rebound from 131.68. Intraday bias will be turned back to the downside for this support.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.66; (P) 136.14; (R1) 137.00; More…

GBP/JPY’s rise from 131.68 resumes after brief consolidation and intraday bias is back on the upside. Further rally would be seen to retest 139.73 high. In any case, outlook will remain cautiously bullish as long as 134.12 support holds, in case of retreat.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.57; (P) 136.01; (R1) 136.33; More…

GBP/JPY’s rise lost momentum after hitting 136.43 and intraday bias is turned neutral first. Further rise will remain in favor as long as 134.12 support holds. Break of 136.43 will resume the rebound from 131.68 to retest 139.73 high. However, firm break of 134.12 will suggest completion of the rebound and turn bias back to the downside.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.80; (P) 135.36; (R1) 136.36; More…

GBP/JPY’s rebound from 131.68 finally resumes by taking out 135.91 resistance. Intraday bias is back on the upside for retesting 139.73 high. On the downside, break of 134.12 support is needed to indicate completion of the rebound. Otherwise, outlook will now stay cautiously bullish in case of retreat.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.12; (P) 134.52; (R1) 134.90; More…

Intraday bias in GBP/JPY remains neutral first. Further rise will be in favor as long as 133.94 minor support holds. On the upside, above 135.91 will extend the rebound from 131.68 towards 139.73 high. However, break of 133.94 will suggest that the rebound has completed. Intraday bias will be turned back to the downside for 131.68 support instead.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Weekly Outlook

GBP/JPY stayed in consolidation below 135.91 last week and outlook is unchanged. Initial bias remains neutral this week first. Further rise will be in favor as long as 133.94 minor support holds. On the upside, above 135.91 will extend the rebound from 131.68 towards 139.73 high. However, break of 133.94 will suggest that the rebound has completed. Intraday bias will be turned back to the downside for 131.68 support instead.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

In the longer term picture, repeated rejection by 55 month EMA indicate long term bearishness in the cross. Down trend from 251.09 (2007 high) should eventually resume through 122.75 to 116.83 (2011 low) and below. However, sustained break of 55 month EMA (now at 144.76) will dampen this view and could open up further rise back to 195.86 (2015 high).

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.10; (P) 134.63; (R1) 135.21; More…

Range trading continues in GBP/JPY and intraday bias remains neutral. As long as 133.94 minor support holds, further rise is mildly in favor. On the upside, above 135.91 will extend the rebound from 131.68 towards 139.73 high. However, break of 133.94 will suggest that the rebound has completed. Intraday bias will be turned back to the downside for 131.68 support instead.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.37; (P) 134.73; (R1) 134.99; More…

Intraday bias in GBP/JPY remains neutral and outlook is unchanged. As long as 133.94 minor support holds, further rise is mildly in favor. On the upside, above 135.91 will extend the rebound from 131.68 towards 139.73 high. However, break of 133.94 will suggest that the rebound has completed. Intraday bias will be turned back to the downside for 131.68 support instead.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.15; (P) 134.47; (R1) 134.94; More…

GBP/JPY recovers just ahead of 133.94 minor support and intraday bias remains neutral first. As long as 133.94 minor support holds, further rise is mildly in favor. On the upside, above 135.91 will extend the rebound from 131.68 towards 139.73 high. However, break of 133.94 will suggest that the rebound has completed. Intraday bias will be turned back to the downside for 131.68 support instead.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.34; (P) 134.91; (R1) 135.23; More…

GBP/JPY is staying in range below 135.91 temporary top and intraday bias stays neutral first. As long as 133.94 minor support holds, further rise is mildly in favor. On the upside, above 135.91 will extend the rebound from 131.68 towards 139.73 high. However, break of 133.94 will suggest that the rebound has completed. Intraday bias will be turned back to the downside for 131.68 support instead.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.44; (P) 134.82; (R1) 135.36; More…

Intraday bias in GBP/JPY remains neutral for the moment. As long as 133.94 minor support holds, further rise is mildly in favor. On the upside, above 135.91 will extend the rebound from 131.68 towards 139.73 high. However, break of 133.94 will suggest that the rebound has completed. Intraday bias will be turned back to the downside for 131.68 support instead.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Weekly Outlook

GBP/JPY edged higher to 135.91 last week but retreated. Initial bias is neutral this week first. As long as 133.94 minor support holds, further rise is mildly in favor. On the upside, above 135.91 will extend the rebound from 131.68 towards 139.73 high. However, break of 133.94 will suggest that the rebound has completed. Intraday bias will be turned back to the downside for 131.68 support instead.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

In the longer term picture, repeated rejection by 55 month EMA indicate long term bearishness in the cross. Down trend from 251.09 (2007 high) should eventually resume through 122.75 to 116.83 (2011 low) and below. However, sustained break of 55 month EMA (now at 144.87) will dampen this view and could open up further rise back to 195.86 (2015 high).

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.83; (P) 135.37; (R1) 135.70; More…

Intraday bias in GBP/JPY is turned neutral with today’s retreat. Another rise is mildly in favor as long as 133.94 minor support holds. Above 135.91 will target 139.74 high. However, break of 133.94 will suggest completion of the rebound from 131.68. Intraday bias will be turned back to the downside for this support instead..

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.77; (P) 135.10; (R1) 135.62; More…

GBP/JPY’s rise from 131.68 is still in progress for 135.34 resistance and intraday bias remains on the upside. Break will confirm completion of the corrective pull back from 139.73. Further rally would be seen to 139.73 high next. On the downside, break of 133.94 minor support will turn bias back to the downside for 131.68 support instead.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.16; (P) 134.78; (R1) 135.49; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current development suggests that corrective pull back form 139.73 has completed at 1.3168. Further rise should be seen to 136.34 resistance first. Break will confirm and target 139.73 high. On the downside, break of 133.94 minor support will turn bias back to the downside for 131.68 support instead.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Mid-Day Outlook

Daily Pivots: (S1) 133.82; (P) 134.25; (R1) 134.56; More…

Intraday bias in GBP/JPY stays on the upside for 136.64 resistance. Break there should confirm completion of pull back from 139.73. Further rise should then be seen to retest 139.73 high. On the downside, below 133.94 minor support will turn bias back to the downside for 131.68 support next.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 133.82; (P) 134.25; (R1) 134.56; More…

At this point, rebound from 131.68 is still mildly in favor to extend higher. Firm break of 136.34 resistance should confirm completion of pull back from 139.73 and bring retest of this high. On the downside, break of 131.95 support would resume the decline through 131.68 to 129.27 key support.

In the bigger picture, we’re seeing price actions from 122.75 (2016 low) as a sideway consolidation pattern. As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.