Daily Pivots: (S1) 139.00; (P) 139.75; (R1) 140.18; More…

GBP/JPY recovered after drawing support from 139.36 minor support and intraday bias stays neutral first. On the downside, break of 139.36 will indicate short term topping. Deeper fall should then be seen back to 135.74 resistance turned support first. On the upside, break of 141.57 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. On the downside, sustained break of 135.74 will suggest that such rebound has completed. Deeper decline could the be seen to retest 126.54 low.

GBP/JPY edged higher to 141.57 last week but failed to sustain above 141.50 and retreat sharply. Initial focus is on 139.36 minor support. Break there will indicate short term topping. Deeper fall should then be seen back to 135.74 resistance turned support first. On the upside, break of 141.57 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. On the downside, sustained break of 135.74 will suggest that such rebound has completed. Deeper decline could the be seen to retest 126.54 low.

In the longer term picture, price actions from 122.75 (2016 low) are seen as developing into a consolidation pattern. That is, long term down trend from 195.86 (2015 high) and that from 251.09 (2007 high) are still in favor to extend through 116.83 (2011 low). We’ll hold on to this bearish view as long as 156.59 key resistance holds.

Daily Pivots: (S1) 139.80; (P) 140.36; (R1) 140.75; More…

Intraday bias in GBP/JPY stays neutral first. Further rise is in favor with 139.36 support intact. Firm break of 141.50 will resume rise from 126.54 and target trend line resistance (now at 143.88). However, break of 139.36 will turn bias to the downside for deeper pull back to 135.74 resistance turned support.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

Daily Pivots: (S1) 139.88; (P) 140.19; (R1) 140.66; More…

Intraday bias in GBP/JPY remains neutral for the moment. Further rise is in favor with 139.36 support intact. Firm break of 141.50 will resume rise from 126.54 and target trend line resistance (now at 143.88). However, break of 139.36 will turn bias to the downside for deeper pull back to 135.74 resistance turned support.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

Daily Pivots: (S1) 139.97; (P) 140.46; (R1) 140.79; More…

Intraday bias in GBP/JPY remains neutral and further rise is still in favor with 139.36 support intact. Firm break of 141.50 will resume rise from 126.54 and target trend line resistance (now at 143.88). However, break of 139.36 will turn bias to the downside for deeper pull back to 135.74 resistance turned support.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

Daily Pivots: (S1) 140.23; (P) 140.90; (R1) 141.44; More…

Focus remains on 141.50 resistance in GBP/JPY. Decisive break there will confirm resumption of rise from 126.54. Intraday bias will be turned to the upside for trend line resistance (now at 143.88). For now, near term outlook will remain bullish as long as 139.36 support holds. However, break of 139.36 will turn bias to the downside for deeper pull back to 135.74 resistance turned support.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

Daily Pivots: (S1) 139.84; (P) 140.15; (R1) 140.69; More…

With today’s strong rally, focus is now on 141.50 resistance in GBP/JPY. Decisive break there will confirm resumption of rise from 126.54. Intraday bias will be turned to the upside for trend line resistance (now at 144.09). For now, near term outlook will remain bullish as long as 139.36 support holds. However, break of 139.36 will turn bias to the downside for deeper pull back to 135.74 resistance turned support.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

GBP/JPY stayed in sideway consolidation from 141.50 last week and outlook is unchanged. Initial bias remains neutral this week first. Such consolidation could extend with a deep falling leg before completion. But in that case, downside should be contained above 135.74 resistance turned support to bring rebound. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

In the longer term picture, price actions from 122.75 (2016 low) are seen as developing into a consolidation pattern. That is, long term down trend from 195.86 (2015 high) and that from 251.09 (2007 high) are still in favor to extend through 116.83 (2011 low). We’ll hold on to this bearish view as long as 156.59 key resistance holds.

Daily Pivots: (S1) 139.42; (P) 139.64; (R1) 139.88; More…

No change in GBP/JPY’s outlook as it’s staying in consolidation from 141.50 and intraday bias remains neutral at this point. Deeper fall cannot be ruled out. But downside should be contained above 135.74 resistance turned support to bring rebound. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

Daily Pivots: (S1) 139.44; (P) 139.85; (R1) 140.26; More…

GBP/JPY is staying in consolidation from 141.50 and intraday bias remains neutral at this point. Deeper fall cannot be ruled out. But downside should be contained above 135.74 resistance turned support to bring rebound. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

Daily Pivots: (S1) 139.79; (P) 140.19; (R1) 140.43; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 141.50 is extending. Deeper fall cannot be ruled out. But downside should be contained above 135.74 resistance turned support to bring rebound. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

Daily Pivots: (S1) 139.52; (P) 140.00; (R1) 140.64; More…

GBP/JPY is staying in consolidation from 141.50 and intraday bias remains neutral first. In case of another fall, downside should be contained above 135.74 resistance turned support to bring rebound. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

Daily Pivots: (S1) 139.27; (P) 139.74; (R1) 140.06; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 141.50 is extending. In case of another fall, downside should be contained above 135.74 resistance turned support to bring rebound. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

GBP/JPY was bounded in sideway consolidation below 141.50 last week and outlook remain unchanged. Initial bias stays neutral this week first. In case of another fall, downside should be contained above 135.74 resistance turned support to bring rebound. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 135.74 resistance turned support holds.

In the longer term picture, price actions from 122.75 (2016 low) are seen as developing into a consolidation pattern. That is, long term down trend from 195.86 (2015 high) and that from 251.09 (2007 high) are still in favor to extend through 116.83 (2011 low). We’ll hold on to this bearish view as long as 156.59 key resistance holds.

Daily Pivots: (S1) 139.51; (P) 140.02; (R1) 140.55; More…

Intraday bias in GBP/JPY remains neutral for consolidation from 141.50. Another fall cannot be ruled out, but downside should be contained above 135.74 resistance turned support to bring another rally. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 139.77; (P) 140.23; (R1) 140.59; More…

GBP/JPY is staying in consolidation from 141.50 and intraday bias remains neutral first. Another fall cannot be ruled out, but downside should be contained above 135.74 resistance turned support to bring another rally. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 140.07; (P) 140.41; (R1) 140.97; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 141.50 is extending. Another fall cannot be ruled out, but downside should be contained above 135.74 resistance turned support to bring another rally. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 139.74; (P) 139.99; (R1) 140.13; More…

GBP/JPY is staying in consolidation from 141.50 and intraday bias remains neutral first Another fall cannot be ruled out, but downside should be contained above 135.74 resistance turned support to bring another rally. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

Daily Pivots: (S1) 139.71; (P) 139.93; (R1) 140.22; More…

Intraday bias in GBP/JPY remains neutral for the moment. Consolidation from 141.50 could extend with another fall. But downside should be contained above 135.74 resistance turned support to bring another rally. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

GBP/JPY stayed in consolidation from 141.50 last week and outlook is unchanged. Initial bias remains neutral this week first. Downside of retreat should be contained above 135.74 resistance turned support to bring another rally. On the upside, break of 141.50 will resume the rise from 126.54 to for 148.87 key resistance.

In the bigger picture, consolidation pattern from 122.75 (2016 low) is still in progress with rise from 126.54 as the third leg. Further rise should be seen back to 148.87/156.59 resistance zone. For now, we’d expect strong resistance from there to limit upside. And, this will remain the favored case as long as 130.42 support holds.

In the longer term picture, price actions from 122.75 (2016 low) are seen as developing into a consolidation pattern. That is, long term down trend from 195.86 (2015 high) and that from 251.09 (2007 high) are still in favor to extend through 116.83 (2011 low). We’ll hold on to this bearish view as long as 156.59 key resistance holds.