Daily Pivots: (S1) 198.41; (P) 198.74; (R1) 199.30; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Decisive break of 199.96 will resume whole rise from 184.35. Next target is 100% projection of 180.00 to 199.79 from 184.35 at 204.14. On the downside, below 198.16 minor support will delay the bullish case and turn intraday bias neutral again.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 197.75; (P) 198.29; (R1) 199.20; More…

Intraday bias in GBP/JPY stays on the upside for retesting 199.96 resistance first. Decisive break there resume whole rise from 184.35. Next target is 100% projection of 180.00 to 199.79 from 184.35 at 204.14. On the downside, below 197.35 minor support will delay the bullish case and turn intraday bias neutral again. In this case, corrective pattern from 199.96 would extend with another falling leg.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

The strong rebound in GBP/JPY last week suggests that correction from 199.96 has completed at 195.01 already. Initial bias stays on the upside for retesting 199.96 first. Firm break there will resume whole rise from 184.35. Next target is 100% projection of 180.00 to 199.79 from 184.35 at 204.14. On the downside, below 197.35 minor support will delay the bullish case and turn intraday bias neutral again.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

In the long term picture, there is no sign that the long term up trend from 122.75 (2016 low) has concluded. But firm break of 208.09 is needed to confirm resumption. Otherwise, more medium term range trading could still be seen.

Daily Pivots: (S1) 196.69; (P) 197.36; (R1) 198.48; More…

Intraday bias in GBP/JPY remains on the upside at this point. As noted before, corrective pullback from 199.96 could have completed at 195.01. Further rise should be seen for retesting 199.96 high. Firm break there will resume the rally from 184.35. On the downside, below 196.21 minor support will turn intraday bias neutral first. Also, in case of another fall, strong support is expected from 193.99 cluster support (38.2% retracement of 184.35 to 199.96 at 193.99) to bring rebound.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 196.25; (P) 196.67; (R1) 197.25; More…

GBP/JPY’s break of 197.41 support turned resistance suggests that corrective pullback from 199.96 has already completed at 195.01. Intraday bias in back on the upside for retesting 199.96 high. Firm break there will resume the rally from 184.35. In case of another fall, strong support is expected from 193.99 cluster support (38.2% retracement of 184.35 to 199.96 at 193.99) to bring rebound.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 196.25; (P) 196.67; (R1) 197.25; More…

Intraday bias n GBP/JPY stays neutral for the moment. Corrective fall from 199.96 short term top could extend lower. But strong support is expected from 193.99 cluster support (38.2% retracement of 184.35 to 199.96 at 193.99). to bring rebound. On the upside, break of 197.41 support turned resistance will bring retest of 199.96. However, sustained break of 193.99 will raise the chance of near term bearish reversal.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 195.39; (P) 195.92; (R1) 196.81; More…

Intraday bias in GBP/JPY is turned neutral with current recovery. Corrective fall from 199.96 short term top could extend lower. But strong support is expected from 193.99 cluster support (38.2% retracement of 184.35 to 199.96 at 193.99). to bring rebound. On the upside, break of 197.41 support turned resistance will bring retest of 199.96. However, sustained break of 193.99 will raise the chance of near term bearish reversal.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 194.79; (P) 195.67; (R1) 196.29; More…

GBP/JPY’s fall from 199.96 short term top continues today and intraday bias stays on the downside. Deeper fall should be seen to 193.99 cluster support (38.2% retracement of 184.35 to 199.96 at 193.99). Strong support should be seen there to bring rebound, at least on first attempt. On the upside, above 196.51 resistance will turn intraday bias neutral again first. However, sustained break of 193.99 will raise the chance of near term bearish reversal.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 194.28; (P) 196.82; (R1) 198.29; More…

Intraday bias in GBP/JPY stays mildly on the downside for the moment. Fall from 199.96 would extend towards 193.99 cluster support (38.2% retracement of 184.35 to 199.96 at 193.99). Strong support should be seen there to bring rebound, at least on first attempt. On the upside, above 196.95 support turned resistance will turn intraday bias neutral again first.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

GBP/JPY’s corrective pattern from 199.96 continued last week and resumed after brief recovery. Initial bias is now on the downside this week for 193.99 cluster support (38.2% retracement of 184.35 to 199.96 at 193.99). On the upside, above 196.95 support turned resistance will turn intraday bias neutral again first.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

In the long term picture, there is no sign that the long term up trend from 122.75 (2016 low) has concluded. But firm break of 208.09 is needed to confirm resumption. Otherwise, more medium term range trading could still be seen.

Daily Pivots: (S1) 197.53; (P) 198.52; (R1) 200.08; More…

GBP/JPY rebounded after brief dip to 196.95 and intraday bias is turned neutral. Consolidations from 199.96 might still extend and below 196.95 will target 193.99 cluster support (38.2% retracement of 184.35 to 199.96 at 193.99). Nevertheless, firm break of 199.96 will resume larger rise from 184.35.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 197.48; (P) 197.96; (R1) 198.46; More…

The breach of 197.41 support suggests that GBP/JPY’s fall from 199.967 short term top is already correcting the rally from 184.53. Intraday bias is mildly on the downside for 193.99 cluster support (38.2% retracement of 184.35 to 199.96 at 193.99). For now, risk will stay on the downside as long as 199.96 resistance holds, in case of recovery.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 197.79; (P) 198.17; (R1) 198.59; More…

The extended pullback from 199.96 suggests that a short term top is likely in place. On the downside, firm break of 197.41 will turn bias to the downside for 193.99 cluster support (38.2% retracement of 184.35 to 199.96 at 193.99), as correction to the rally from 184.35. On the upside, through, break of 199.96 will resume recent rally from 180.00.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 198.00; (P) 198.55; (R1) 198.95; More…

GBP/JPY is staying in consolidations below 199.96 and intraday bias remains neutral. Deeper pullback cannot be ruled out, but outlook will stay bullish as long as 195.33 support holds. On the upside, break of 199.96 will resume the rise from 184.35 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 198.00; (P) 198.55; (R1) 198.95; More…

Intraday bias in GBP/JPY remains neutral and more consolidations could be seen below 199.96. While deeper pullback might be seen, outlook will stay bullish as long as 195.33 support holds. On the upside, break of 199.96 will resume the rise from 184.35 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

GBP/JPY stayed in range below 199.96 last week and outlook is unchanged. Initial bias remains neutral this week for more consolidations. While deeper pullback might be seen, outlook will stay bullish as long as 195.33 support holds. Break of 199.96 will resume the rise from 184.35 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

In the long term picture, there is no sign that the long term up trend from 122.75 (2016 low) has concluded. But firm break of 208.09 is needed to confirm resumption. Otherwise, more medium term range trading could still be seen.

Daily Pivots: (S1) 198.14; (P) 198.61; (R1) 199.48; More…

Intraday bias in GBP/JPY remains neutral for the moment as consolidations continue below 199.96. While deeper pullback cannot be ruled out, further rally will remain in favor as long as 195.33 support holds. Above 199.96 will resume the rise from 184.35 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 198.14; (P) 198.61; (R1) 199.48; More…

GBP/JPY is still bounded in consolidations below 199.96 and intraday bias stays neutral. While deeper pullback cannot be ruled out, further rally will remain in favor as long as 195.33 support holds. Above 199.96 will resume the rise from 184.35 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 197.51; (P) 198.40; (R1) 199.36; More…

GBP/JPY is staying in consolidations below 199.96 and intraday bias remains neutral. While deeper pullback cannot be ruled out, further rally will remain in favor as long as 195.33 support holds. Above 199.96 will resume the rise from 184.35 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.

Daily Pivots: (S1) 198.40; (P) 198.91; (R1) 199.31; More…

Intraday bias in GBP/JPY remains neutral and more consolidations would be seen below 199.96. While deeper pullback cannot be ruled out, further rally will remain in favor as long as 195.33 support holds. Above 199.96 will resume the rise from 184.35 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 (2024 high) are seen as a correction to rally from 123.94 (2020 low). The pattern might still extend with another falling leg. But in that case, strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. Meanwhile, decisive break of 208.09 will confirm long term up trend resumption.