GBPJPY Outlook

Daily Pivots: (S1) 210.66; (P) 211.10; (R1) 211.80; More...

Intraday bias in GBP/JPY remains neutral and more consolidations could be seen above 209.58. Risk remains on the downside with 213.29 resistance intact. Corrective pattern from 214.98 should be in the third leg. Break of 209.58 will target 207.20 and below. However, firm break of 213.29 will bring further rise to retest 214.98 high.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Firm break of 214.98 will target 61.8% projection of 148.93 (2022 low) to 208.09 (2024 high) from 184.35 at 220.90. This will remain the favored case as long as 55 W EMA (now at 203.13) holds, even in case of another deep pullback.

Daily Pivots: (S1) 210.38; (P) 210.85; (R1) 211.29; More...

Intraday bias in GBP/JPY stays neutral first, and risk remains on the downside with 213.29 resistance intact. Corrective pattern from 214.98 should be in the third leg. Break of 209.58 will target 207.20 and below.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Firm break of 214.98 will target 61.8% projection of 148.93 (2022 low) to 208.09 (2024 high) from 184.35 at 220.90. This will remain the favored case as long as 55 W EMA (now at 203.13) holds, even in case of another deep pullback.

Daily Pivots: (S1)210.26; (P) 210.88; (R1) 211.92; More...

Intraday bias in GBP/JPY is turned neutral with current recovery, and some consolidations could be seen. Risk will stay on the downside as long as 213.29 resistance holds. Corrective pattern from 214.98 should be in the third leg. Brea of 209.15 will target 207.20 and below.

In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Firm break of 214.98 will target 61.8% projection of 148.93 (2022 low) to 208.09 (2024 high) from 184.35 at 220.90. This will remain the favored case as long as 55 W EMA (now at 203.13) holds, even in case of another deep pullback.