Daily Pivots: (S1) 199.11; (P) 199.54; (R1) 200.00; More…

Intraday bias in GBP/JPY is turned neutral again with current retreat. Some consolidations would be seen first. 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.

GBP/JPY’s late breach of 199.80 suggests that recent rally is resuming. Initial bias is mildly on the upside this week for 100% projection of 180.00 to 199.79 from 184.35 at 204.14. On the downside, below 197.92 will turn intraday bias neutral and bring more consolidations. But near term outlook will stay bullish as long as 195.33 support holds, in case of retreat.

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) 198.57; (P) 199.06; (R1) 199.90; More…

GBP/JPY is staying in consolidations below 199.80 and intraday bias remains neutral. While deeper retreat cannot be ruled out, further rise is expected as long as 195.33 support holds. On the upside, break of 199.80 will resume the rally from 184.35 and target 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) 197.69; (P) 198.71; (R1) 199.49; More…

Intraday bias in GBP/JPY remains neutral as consolidations continue below 199.870. While deeper retreat cannot be ruled out, further rise is expected as long as 195.33 support holds. On the upside, break of 199.80 will resume the rally from 184.35 and target 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) 198.44; (P) 198.99; (R1) 199.76; More…

GBP/JPY is staying in range below 199.80 and intraday bias remains neutral. Some more consolidations could be seen first. While deeper retreat cannot be ruled out, further rise is expected as long as 195.33 support holds. On the upside, break of 199.80 will resume the rally from 184.35 and target 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) 197.97; (P) 198.48; (R1) 198.86; More…

Intraday bias in GBP/JPY remains neutral first and more consolidations could be seen below 199.87. While deeper retreat cannot be ruled out, further rise is expected as long as 195.33 support holds. On the upside, break of 199.80 will resume the rally from 184.35 and target 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) 198.28; (P) 198.86; (R1) 199.48; More…

GBP/JPY is staying in consolidations below 199.80 and intraday bias remains neutral for the moment. While deeper retreat cannot be ruled out, further rise is expected as long as 195.33 support holds. On the upside, break of 199.80 will resume the rally from 184.35 and target 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 edged higher to 199.80 last week but turned sideway since then. Initial bias remains neutral this week and more consolidations could be seen. Further rise is expected as long as 195.33 support holds. On the upside, break of 199.80 will resume the rally from 184.35 and target 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) 198.24; (P) 198.74; (R1) 199.11; More…

Intraday bias in GBP/JPY remains neutral for consolidations below 199.80. Further rise is expected as long as 195.33 support holds. Break of 199.80 will resume the rise from 184.35 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14 next.

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) 198.42; (P) 199.12; (R1) 199.50; More…

Intraday bias in GBP/JPY is turned neutral with current retreat, and some consolidations would be seen below 199.80 temporary top. Further rise is expected as long as 195.33 support holds. Break of 199.80 will resume the rise from 184.35 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14 next.

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) 198.66; (P) 199.08; (R1) 199.63; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Firm break of 199.79 resistance will extend the rise from 184.35 to 100% projection of 180.00 to 199.79 from 184.35 at 204.14 next. On the downside, below 198.65 minor support will turn intraday bias neutral first. But outlook will continue to stay bullish as long as 195.33 support holds, in case of retreat.

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) 197.30; (P) 198.15; (R1) 199.52; More…

GBP/JPY’s rally from 184.35 resumed by breaking through 198.78 and intraday bias is back on the upside. Firm break of 199.79 resistance will target 100% projection of 180.00 to 199.79 from 184.35 at 204.14 next. For now, near term outlook will stay bullish as long as 195.33 support holds, in case of retreat.

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) 196.79; (P) 197.39; (R1) 197.87; More…

Intraday bias in GBP/JPY remains neutral and more consolidations would be seen below 198.87. Further rally is expected as long as 193.99 support holds. Break of 198.78 will target 199.79 resistance. Break there will target 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 retreated last week as rise from 184.35 turned into consolidations. Initial bias remains neutral this week first and further rally is expected as long as 193.99 support holds. Break of 198.78 will target 199.79 resistance. Break there will target 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) 196.40; (P) 197.25; (R1) 198.75; More…

GBP/JPY is staying in consolidations below 198.78 and intraday bias remains neutral at this point. Another dip might be seen but outlook will stay bullish as long as 193.99 support holds. Above 198.78 will resume the rise from 184.35 to 199.79 resistance. Break there will target 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 175.94 will bring deeper fall even still as a correction.

Daily Pivots: (S1) 194.99; (P) 196.27; (R1) 197.19; More…

Intraday bias in GBP/JPY remains neutral for the moment, and more consolidations could be seen below 198.87. Deeper pullback cannot be ruled out, but outlook will stay bullish as long as 193.99 support holds. Above 198.78 will resume the rise from 184.35 to 199.79 resistance. Break there will target 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 175.94 will bring deeper fall even still as a correction.

Daily Pivots: (S1) 196.32; (P) 197.09; (R1) 197.90; More…

Intraday bias in GBP/JPY stays neutral as consolidations continues below 198.78. Near term outlook will stay bullish as long as 193.99 support holds. Above 198.78 will resume the rise from 184.35 to 199.79 resistance. Break there will target 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 175.94 will bring deeper fall even still as a correction.

Daily Pivots: (S1) 197.20; (P) 197.84; (R1) 198.46; More…

Intraday bias in GBP/JPY remains neutral, and some more consolidations would be seen first. Near term outlook will stay bullish as long as 193.99 support holds. Above 198.78 will resume the rise from 184.35 to 199.79 resistance. Break there will target 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 175.94 will bring deeper fall even still as a correction.

Daily Pivots: (S1) 198.02; (P) 198.42; (R1) 198.85; More…

Intraday bias in GBP/JPY is turned neutral with current retreat and some more consolidations would be seen first. Near term outlook will stay bullish as long as 193.99 support holds. Above 198.78 will resume the rise from 184.35 to 199.79 resistance. Break there will target 100% projection of 180.00 to 199.79 from 184.35 at 204.14.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 175.94 will bring deeper fall even still as a correction.

GBP/JPY rally from 184.35 resumed last week. Despite diminishing momentum as seen in 4H MACD, there is no clear sign of topping yet. Initial bias stays on the upside this week for 199.79 resistance. Break there will target 100% projection of 180.00 to 199.79 from 184.35 at 204.14. On the downside, below 196.94 minor support will turn intraday bias neutral and bring consolidations. But near term outlook will stay bullish as long as 193.99 support holds, in case of retreat.

In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 175.94 will bring deeper fall even still as a correction.

In the longer term picture, while a medium term top was formed at 208.09 (2024 high), it’s still early to conclude that the up trend from 122.75 (2016 low) has completed. But GBP/JPY is at least in a medium term corrective phase, with risk of correction to 55 M EMA (now at 176.62).