Daily Pivots: (S1) 147.38; (P) 147.98; (R1) 148.44; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 148.57 temporary top. Downside of retreat should be contained by 144.84 resistance turned support to bring rise resumption. On the upside, break of 148.57 will target 149.48 resistance first. Decisive break there will target 100% projection of 131.51 to 144.84 from 141.00 at 154.33 next.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline in turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.48 will pave the way to 156.59 resistance and above.

GBP/JPY’s rally from 131 51 accelerated to as high as 148.57 last week before forming a temporary top and retreated. Initial bias is neutral this week for some consolidation first. Downside of retreat should be contained by 144.84 resistance turned support to bring rise resumption. On the upside, break of 148.57 will target 149.48 resistance first. Decisive break there will target 100% projection of 131.51 to 144.84 from 141.00 at 154.33 next.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline in turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.48 will pave the way to 156.59 resistance and above.

In the longer term picture, the rise from 122.36 (2016 low) to 156.59 (2018 high) doesn’t display a clear impulsive structure. Thus, we’re treating price actions from 122.36 as a corrective pattern. In case of an extension, strong resistance is likely to be seen at 50% retracement of 195.86 (2015 high) to 122.36 at 159.11 to limit upside. On the downside, break of 131.51 support will bring 122.26 low back into focus.

Daily Pivots: (S1) 147.05; (P) 147.65; (R1) 148.31; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current rally from 131.51 should target 149.48 resistance next. Decisive break there will pave the way to 156.95 key resistance next. On the downside, below 146.98 minor support will turn intraday bias neutral for consolidation first. In case of deeper pull back, downside should be contained by 141.00/144.84 support zone to bring rally resumption.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline in turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.48 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 146.58; (P) 147.31; (R1) 148.46; More…

Intraday bias in GBP/JPY remains neutral at this point. Current rise from 131.51 should target 149.48 key resistance next. On the downside, break of 146.16 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.48 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 145.61; (P) 146.32; (R1) 147.24; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Sustained trading above medium term trend line resistance will pave the way to 149.58 resistance next. On the downside, break of 143.78 support will indicate short term topping. In this case, intraday bias will be flipped to the downside for 141.00 support.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.48 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 143.92; (P) 144.33; (R1) 144.89; More…

GBP/JPY’s rally resumed after brief retreat and reaches as high as 145.97 so far. Intraday bias is back on the upside for further rally. But we’d expect strong resistance from trend line (now at 146.75) to limit upside, at least on first attempt. On the downside, break of 143.78 minor support will turn bias to the downside for 141.00 support. However, sustained break of the trend line will target 149.48 resistance next.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.48 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 143.92; (P) 144.33; (R1) 144.89; More…

Intraday bias in GBP/JPY remains neutral and another rise is mildly in favor. On the upside, break of 144.85 resistance suggests resumption of rebound from 131.51. Break of 145.04 will extend the rally. But we’d expect strong resistance from trend line (now at 146.75) to limit upside, at least on first attempt. On the downside, firm break of 141.00 support will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

GBP/JPY rose to 145.04 last week before forming a temporary top a retreated. Initial bias is neutral this week first. The break of 144.85 resistance suggests resumption of rebound from 131.51. Break of 145.04 will extend the rally. But we’d expect strong resistance from trend line (now at 146.75) to limit upside, at least on first attempt. On the downside, firm break of 141.00 support will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

In the longer term picture, the rise from 122.36 (2016 low) to 156.59 (2018 high) doesn’t display a clear impulsive structure. Thus, we’re treating price actions from 122.36 as a corrective pattern. In case of an extension, strong resistance is likely to be seen at 50% retracement of 195.86 (2015 high) to 122.36 at 159.11 to limit upside. On the downside, break of 131.51 support will bring 122.26 low back into focus.

Daily Pivots: (S1) 143.96; (P) 144.44; (R1) 144.79; More…

GBP/JPY continues to lose upside momentum as seen in 4 hour MACD. But further rise cannot be rule out yet. Though, we’d expect strong resistance from trend line (now at 146.81) to limit upside, at least on first attempt. On the downside, firm break of 141.00 support will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 144.16; (P) 144.61; (R1) 145.09; More…

At this point, further rise is in favor in GBP/JPY. But we’d expect strong resistance from trend line (now at 146.64) to limit upside, at least on first attempt. On the downside, firm break of 141.00 support will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 143.06; (P) 143.88; (R1) 145.29; More…

GBP/JPY’s rebound from 131.51 resumed by breaking 144.84 and intraday bias is back on the upside. At this point, we’d expect strong resistance from trend line (now at 146.64) to limit upside, at least on first attempt. On the downside, firm break of 141.00 support will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 142.56; (P) 142.80; (R1) 143.18; More…

GBP/JPY is still staying in range of 140.62/144.84 and intraday bias remains neutral first. Rebound from 131.51 could still extend higher. But we’d expect strong resistance from trend line (now at 146.64) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 141.47; (P) 141.94; (R1) 142.84; More…

Intraday bias in GBP/JPY remains neutral at this point. Rebound from 131.51 could still extend higher. But we’d expect strong resistance from trend line (now at 146.64) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

GBP/JPY gyrated lower again last week but so far, downside is contained above 140.62 support. Initial bias remains neutral this week first and outlook is unchanged. Rebound from 131.51 could still extend higher. But we’d expect strong resistance from trend line (now at 146.80) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

In the longer term picture, the rise from 122.36 (2016 low) to 156.59 (2018 high) doesn’t display a clear impulsive structure. Thus, we’re treating price actions from 122.36 as a corrective pattern. In case of an extension, strong resistance is likely to be seen at 50% retracement of 195.86 (2015 high) to 122.36 at 159.11 to limit upside. On the downside, break of 131.51 support will bring 122.26 low back into focus.

Daily Pivots: (S1) 142.17; (P) 142.74; (R1) 143.17; More…

At this point, GBP/JPY is still staying above 140.62 support and intraday bias remains neutral first. Break of 140.62 will suggest completion of the rebound and turn bias to the downside. In that case, deeper fall would be seen back to retest 131.51 low. On the upside, in case of another rise, we’d expect strong resistance from trend line (now at 146.85) to limit upside, at least on first attempt.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 142.17; (P) 142.74; (R1) 143.17; More…

Intraday bias in GBP/JPY remains neutral at this point. With 140.62 minor support intact, rebound from 131.51 might still extend through 144.84. But in that case, we’d expect strong resistance from trend line (now at 146.85) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 142.01; (P) 142.33; (R1) 142.77; More…

No change in GBP/JPY’s outlook as it’s staying in range below 144.84. Intraday bias remains neutral for the moment. Rebound from 131.51 might still extend. But we’d expect strong resistance from trend line (now at 146.89) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 141.77; (P) 142.15; (R1) 142.44; More…

GBP/JPY is staying in range below 144.84 and intraday bias remains neutral first. At this point, rebound from 131.51 might still extend. But we’d expect strong resistance from trend line (now at 146.93) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

Daily Pivots: (S1) 141.77; (P) 142.15; (R1) 142.44; More…

Intraday bias in GBP/JPY remains neutral at this point. On the upside, above 144.84 will extend the rebound from 131.51. But we’d expect strong resistance from trend line (now at 146.93) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

GBP/JPY gyrated lower last week but downside was contained above 140.62 support so far. Initial bias remains neutral this week first and outlook is unchanged. On the upside, above 144.84 will extend the rebound from 131.51. But we’d expect strong resistance from trend line (now at 146.93) to limit upside, at least on first attempt. On the downside, firm break of 140.62 will suggest completion of the rebound and turn bias to the downside.

In the bigger picture, the strong rebound from 131.51 suggests that medium term fall from 156.59 (2018 high) has completed already. The corrective structure of such decline is turn argues that it’s the second leg of the corrective pattern from 122.36 (2016 low). And this pattern is starting the third leg. On the upside, decisive break of 149.38 will pave the way to 156.59 resistance and above.

In the longer term picture, the rise from 122.36 (2016 low) to 156.59 (2018 high) doesn’t display a clear impulsive structure. Thus, we’re treating price actions from 122.36 as a corrective pattern. In case of an extension, strong resistance is likely to be seen at 50% retracement of 195.86 (2015 high) to 122.36 at 159.11 to limit upside. On the downside, break of 131.51 support will bring 122.26 low back into focus.