Daily Pivots: (S1) 183.18; (P) 183.72; (R1) 184.41; More…

Intraday bias in GBP/JPY remains neutral for the moment. On the upside, sustained break of 184.15 resistance will argue that whole pull back from 188.63 has completed and bring further rally to retest this high. However, break of 181.73 minor support will indicate rejection by 184.15, and retain near term bearishness. Intraday bias will be back on the downside for 178.71 support instead.

In the bigger picture, price actions from 188.63 medium term top are seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 183.43; (P) 183.87; (R1) 184.41; More…

Intraday bias in GBP/JPY stays neutral first. On the upside, sustained break of 184.15 resistance will argue that whole pull back from 188.63 has completed and bring further rally to retest this high. However, break of 181.73 minor support will indicate rejection by 184.15, and retain near term bearishness. Intraday bias will be back on the downside for 178.71 support instead.

In the bigger picture, price actions from 188.63 medium term top are seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Immediate focus is now on 184.15 in GBP/JPY after last week’s strong rebound. Sustained break there will argue that whole pull back from 188.63 has completed and bring further rally to retest this high. Nevertheless, rejection by 184.15 will retain near term bearishness for another fall through 178.32 later.

In the bigger picture, price actions from 188.63 medium term top are seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

In the longer term picture, rise from 122.75 (2016 low) in still in progress despite loss of upside momentum as seen in W MACD. Further rise will remain in favor, as long as 172.11 support holds, to retest 195.86 (2015 high).

Daily Pivots: (S1) 181.71; (P) 182.74; (R1) 184.47; More…

Intraday bias in GBP/JPY stays neutral at this point. On the upside, firm break of 184.15 resistance will argue that pull back from 188.63 has completed. Further rally would be seen to retest this high. On the downside, though, break of 178.71 will resume the decline from 188.63 and target 38.2% retracement of 148.93 to 188.63 at 173.46.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 179.73; (P) 180.74; (R1) 182.48; More…

Intraday bias in GBP/JPY stays neutral for the moment, and range trading could continue above 178.32. Further decline is expected as long as 184.15 resistance holds. On the downside, break of will resume the decline from 188.63 and target 38.2% retracement of 148.93 to 188.63 at 173.46. However, decisive break of 184.15 will argue that pull back from 188.63 has completed and bring retest of this high.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 178.40; (P) 179.52; (R1) 180.31; More…

Range trading continues in GBP/JPY and intraday bias remains neutral. Further decline is expected as long as 184.15 resistance holds. On the downside, break of will resume the decline from 188.63 and target 38.2% retracement of 148.93 to 188.63 at 173.46. However, decisive break of 184.15 will argue that pull back from 188.63 has completed and bring retest of this high.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 179.07; (P) 179.80; (R1) 180.30; More…

Intraday bias in GBP/JPY stays neutral as range trading continues. Further decline is expected as long as 184.15 resistance holds. On the downside, break of will resume the decline from 188.63 and target 38.2% retracement of 148.93 to 188.63 at 173.46. However, decisive break of 184.15 will argue that pull back from 188.63 has completed and bring retest of this high.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 178.86; (P) 180.18; (R1) 181.35; More…

Range trading continues in GBP/JPY above 178.32 and intraday bias remains neutral. Further decline is expected as long as 184.15 resistance holds. On the downside, break of will resume the decline from 188.63 and target 38.2% retracement of 148.93 to 188.63 at 173.46. However, decisive break of 184.15 will argue that pull back from 188.63 has completed and bring retest of this high.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 180.98; (P) 181.58; (R1) 182.14; More…

GBP/JPY is still bounded in sideway trading and intraday bias remains neutral at this point. Further decline is expected as long as 184.15 resistance holds. On the downside, break of will resume the decline from 188.63 and target 38.2% retracement of 148.93 to 188.63 at 173.46. However, decisive break of 184.15 will argue that pull back from 188.63 has completed and bring retest of this high.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 180.56; (P) 180.93; (R1) 181.54; More…

Range trading continues in GBP/JPY and intraday bias remains neutral for the moment. Further decline is expected as long as 184.15 resistance holds. On the downside, break of will resume the decline from 188.63 and target 38.2% retracement of 148.93 to 188.63 at 173.46. However, decisive break of 184.15 will argue that pull back from 188.63 has completed and bring retest of this high.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 179.55; (P) 180.56; (R1) 181.32; More…

Intraday bias in GBP/JPY remains neutral as range trading continues. Further decline is expected as long as 184.15 resistance holds. On the downside, break of will resume the decline from 188.63 and target 38.2% retracement of 148.93 to 188.63 at 173.46. However, decisive break of 184.15 will argue that pull back from 188.63 has completed and bring retest of this high.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 180.70; (P) 182.02; (R1) 182.76; More…

GBP/JPY’s fall from 184.15 extends lower today but overall it’s staying in range above 178.32. Intraday bias remains neutral and further decline is expected. On the downside, break of will resume the decline from 188.63 and target 38.2% retracement of 148.93 to 188.63 at 173.46. However, decisive break of 184.30 will argue that pull back from 188.63 has completed and bring retest of this high.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 180.73; (P) 182.46; (R1) 184.86; More…

GBP/JPY retreats sharply ahead of 184.30 resistance and intraday bias remains neutral first. Fall from 188.63 is still in favor to continue. Break of 178.32 will resume the decline and target 38.2% retracement of 148.93 to 188.63 at 173.46. However, decisive break of 184.30 will argue that pull back from 188.63 has completed and bring retest of this high.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 179.99; (P) 180.59; (R1) 181.20; More…

GBP/JPY’s rebound from 178.32 accelerates higher today and focus is back on 184.43 resistance. Firm break there will argue that pull back from 188.63 has completed and bring retest of this high. Nevertheless, rejection by 184.43, followed by break of 178.32, will resume the whole fall from 188.63 to 38.2% retracement of 148.93 to 188.63 at 173.46.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Daily Pivots: (S1) 179.50; (P) 180.62; (R1) 181.41; More…

Intraday bias in GBP/JPY remains neutral and some more consolidations could be seen above 178.32. But near term outlook stays bearish as long as 184.30 resistance holds. Decisive break of 178.02/32 support zone will resume whole fall from 188.63 to 38.2% retracement of 148.93 to 188.63 at 173.46.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

Much volatility was seen in GBP/JPY, as it reversed after failing to break through 184.44 support turned resistance, and then dived to 178.32, then recovered again. Initial bias stays neutral this week first. Deeper decline is expected as long as 184.30 resistance holds. Break of 178.32 will resume the whole fall from 188.63. Sustained break of 178.02 will pave the way to 38.2% retracement of 148.93 to 188.63 at 173.46.

In the bigger picture, price actions from 188.63 medium term top are currently seen as a correction to the up trend from 148.93 (2022 low) only. As long as 172.11 resistance turned support holds, larger up trend from 123.94 (2020 low) is still in favor to resume through 188.63 at a later stage.

In the longer term picture, rise from 122.75 (2016 low) in still in progress but started losing upside momentum as seen in W MACD. Further rise will remain in favor, though, as long as 172.11 support holds, to retest 195.86 (2015 high).

Daily Pivots: (S1) 179.23; (P) 180.22; (R1) 182.10; More…

GBP/JPY recovered after dipping to 178.32 and intraday bias is turned neutral first. Deeper decline is expected as long as 184.30 resistance holds. Break of 178.32 will resume the whole decline from 188.63. Sustained break of 178.02 will pave the way to 38.2% retracement of 148.93 to 188.63 at 173.46.

In the bigger picture, while a medium term top is in place at 188.63, there is no clear sign of long term bearish trend reversal yet. As long as 55 W EMA (now at 175.67) holds, price actions from 188.63 are seen as a corrective move only. Larger up trend from 123.94 (2022 low) could resume at a later stage.

Daily Pivots: (S1) 179.30; (P) 181.22; (R1) 182.25; More…

GBP/JPY’s breach of 178.58 support indicates resumption of whole fall from 188.63. Intraday bias is back on the downside. Break of 178.02 support will pave the way to 38.2% retracement of 148.93 to 188.63 at 173.46. For now, risk will stay on the downside as long as 184.30 resistance holds, in case of recovery.

In the bigger picture, while a medium term top is in place at 188.63, there is no clear sign of long term bearish trend reversal yet. As long as 55 W EMA (now at 175.67) holds, price actions from 188.63 are seen as a corrective move only. Larger up trend from 123.94 (2022 low) could resume at a later stage.

Daily Pivots: (S1) 182.14; (P) 182.87; (R1) 183.45; More…

Intraday bias in GBP/JPY stays neutral for the moment. On the downside, break of 181.66 minor support will suggest that rebound from 178.58 has completed. Intraday bias will be back to the downside for retesting 178.58 low. Overall outlook will stay bearish as long as 184.44 support turned resistance support turned resistance holds.

In the bigger picture, while a medium term top is in place at 188.63, there is no clear sign of long term bearish trend reversal yet. As long as 55 W EMA (now at 175.67) holds, price actions from 188.63 are seen as a corrective move only. Larger up trend from 123.94 (2022 low) could resume at a later stage.

Daily Pivots: (S1) 182.01; (P) 183.17; (R1) 184.68; More…

Intraday bias in GBP/JPY is turned neutral first with current retreat. On the downside, break of 181.66 minor support will suggest that rebound from 178.58 has completed. Intraday bias will be back to the downside for retesting 178.58 low. Overall outlook will stay bearish as long as 184.44 support turned resistance support turned resistance holds.

In the bigger picture, while a medium term top is in place at 188.63, there is no clear sign of long term bearish trend reversal yet. As long as 55 W EMA (now at 175.67) holds, price actions from 188.63 are seen as a corrective move only. Larger up trend from 123.94 (2022 low) could resume at a later stage.