Daily Pivots: (S1) 147.45; (P) 148.02; (R1) 148.78; More…

GBP/JPY is still bounded in sideway consolidation from 149.70 and intraday bias remains neutral first. With 145.67 support intact, outlook stays bullish and further rally is expected. On the upside, above 149.70 will target 153.84/156.69 resistance zone next. However, break of 145.67 will suggest that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

Daily Pivots: (S1) 146.91; (P) 147.82; (R1) 148.46; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 149.70 is still in progress. With 145.67 support intact, outlook stays bullish and further rally is expected. On the upside, above 149.70 will target 153.84/156.69 resistance zone next. However, break of 145.67 will suggest that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

Daily Pivots: (S1) 148.13; (P) 148.66; (R1) 149.18; More…

At this point, GBP/JPY is staying in consolidation from 149.70 and intraday bias stays neutral. With 145.67 support intact, outlook stays bullish and further rally is expected. On the upside, above 149.70 will target 153.84/156.69 resistance zone next. However, break of 145.67 will suggest that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

Daily Pivots: (S1) 147.57; (P) 148.11; (R1) 148.67; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 149.70 is extending. With 145.67 support intact, outlook stays bullish and further rally is expected. On the upside, above 149.70 will target 153.84/156.69 resistance zone next. However, break of 145.67 will suggest that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

GBP/JPY stayed in consolidation below 149.70 last week but held above 145.67 resistance turned support. Initial bias remains neutral this week and another rally is in favor. On the upside, above 149.70 will target 153.84/156.69 resistance zone next. However, break of 145.67 will suggest that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

In the longer term picture, the failure to sustain above 55 month EMA (now at 152.97) mixed the outlook. Nonetheless, as long as 139.29 holds, rise from 122.36 is in favor to extend to 50% retracement of 195.86 (2015 high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead.

Daily Pivots: (S1) 148.11; (P) 148.61; (R1) 148.93; More…

Intraday bias in GBP/JPY remains neutral as consolidation from 149.70 is extending. Deeper fall could be seen but further rise is still expected as long as 145.67 resistance turned support holds. Break of 149.70 will target 153.84/156.69 resistance zone. However, break of 145.67 will suggests that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

Daily Pivots: (S1) 148.11; (P) 148.61; (R1) 148.93; More…

No change in GBP/JPY’s outlook as consolidation from 149.70 is extending. Deeper fall could be seen but further rise is still expected as long as 145.67 resistance turned support holds. Break of 149.70 will target 153.84/156.69 resistance zone. However, break of 145.67 will suggests that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

Daily Pivots: (S1) 148.15; (P) 148.58; (R1) 149.36; More…

Intraday bias in GBP/JPY remains neutral at this point. Consolidation from 149.70 could extend with another fall. But after all, further rise is still expected as long as 145.67 resistance turned support holds. Break of 149.70 will target 153.84/156.69 resistance zone. However, break of 145.67 will suggests that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

Daily Pivots: (S1) 147.18; (P) 147.74; (R1) 148.54; More…

GBP/JPY is staying in consolidation from 149.70 temporary top. Intraday bias remains neutral at this point. Further rise is still expected as long as 145.67 resistance turned support holds. Break of 149.70 will target 153.84/156.69 resistance zone. However, break of 145.67 will suggests that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

Daily Pivots: (S1) 146.24; (P) 147.99; (R1) 148.97; More…

Intraday bias in GBP/JPY remains neutral for the moment. Further rise is still expected as long as 145.67 resistance turned support holds. Break of 149.70 will target 153.84/156.69 resistance zone. However, break of 145.67 will suggests that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

GBP/JPY surged further to as high as 149.70 last week but retreated sharply from there. Initial bias stays neutral this week first. For now, further rise is still expected as long as 145.67 resistance turned support holds. Break of 149.70 will target 153.84/156.69 resistance zone. However, break of 145.67 will suggests that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds. However, break of 145.67 will turn focus back to 139.29/47 key support zone.

In the longer term picture, the failure to sustain above 55 month EMA (now at 152.74) is mixing up the outlook. Nonetheless, as long as 139.29 holds, rise from 122.36 is in favor to extend to 50% retracement of 195.86 (2015 high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead.

Daily Pivots: (S1) 147.99; (P) 148.64; (R1) 149.94; More…

GBP/JPY’s sharp fall and break of 148.51 minor support suggests temporary topping at 149.70. Intraday bias is turned neutral first. For now, further rise is still expected as long as 145.67 resistance turned support holds. Break of 149.70 will target 153.84/156.69 resistance zone. However, break of 145.67 will suggests that the rebound from 139.88 has completed and turn near term outlook bearish again.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 near term support holds.

Daily Pivots: (S1) 147.99; (P) 148.64; (R1) 149.94; More…

GBP/JPY’s rally is still in progress and intraday bias stays. Break of 149.30 resistance now indicates completion of whole corrective fall from 156.59 at 139.88. Further rally should be see back to 153.84/156.69 resistance zone. On the downside, below 148.51 minor support will turn intraday bias neutral and bring consolidation first. But retreat should be contained above 145.67 resistance turned support to bring rise resumption.

In the bigger picture, current development suggests that GBP/JPY has successfully defended 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47). And, the rally from 122.36 (2016 low) is still intact. Such medium to long term rise would extend through 156.96 high. This will now be the preferred case as long as 145.67 neat term support holds.

Daily Pivots: (S1) 147.10; (P) 147.83; (R1) 148.33; More…

GBP/JPY’s rally continues to as high as 149.04 so far. Intraday bias remains on the upside for 149.30 resistance. Decisive break there will confirm that whole decline from 156.59 has completed at 139.88. Further rally should then seen back to 153.84/156.59 resistance zone. On the downside, below 147.17 minor support will turn intraday bias neutral first. But near term outlook will remain cautiously bullish as long as 145.67 resistance turned support holds.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, the decline from 156.69 is seen as corrective move. That is, rise from 122.36 (2016 low), is still expected to extend higher through 156.69. However, sustained break of 139.29/47 should confirm medium term reversal and turn outlook bearish.

Daily Pivots: (S1) 147.10; (P) 147.83; (R1) 148.33; More…

Despite losing upside momentum, further is still in favor in GBP/JPY with 146.24 minor support intact. Current rally should target 149.50 resistance. Decisive break there will confirm our bullish view that decline from 156.59 has completed at 139.88. On the downside, below 146.24 minor support will bring deeper pull back. But outlook will remain cautiously bullish as long as 142.58 support holds.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, the decline from 156.69 is seen as corrective move. That is, rise from 122.36 (2016 low), is still expected to extend higher through 156.69. However, sustained break of 139.29/47 should confirm medium term reversal and turn outlook bearish.

Daily Pivots: (S1) 147.03; (P) 147.47; (R1) 148.16; More…

GBP/JPY’s rally from 139.88 is still in progress and intraday bias stays on the upside. Current rise should target 149.50 resistance. Decisive break there will confirm our bullish view that decline from 156.59 has completed at 139.88. On the downside, below 146.24 minor support will turn intraday bias neutral and bring retreat. But further rally will remain in favor as long as 142.58 support holds.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, the decline from 156.69 is seen as corrective move. That is, rise from 122.36 (2016 low), is still expected to extend higher through 156.69. However, sustained break of 139.29/47 should confirm medium term reversal and turn outlook bearish.

Daily Pivots: (S1) 146.50; (P) 146.99; (R1) 147.67; More…

Intraday bias in GBP/JPY remains on the upside at this point. Current rise from 139.88 should target 149.50 resistance. Decisive break there will confirm our bullish view that decline from 156.59 has completed at 139.88. On the downside, below 146.24 minor support will turn intraday bias neutral and bring retreat. But further rally will remain in favor as long as 142.58 support holds.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, the decline from 156.69 is seen as corrective move. That is, rise from 122.36 (2016 low), is still expected to extend higher through 156.69. However, sustained break of 139.29/47 should confirm medium term reversal and turn outlook bearish.

Daily Pivots: (S1) 146.13; (P) 146.58; (R1) 146.90; More…

GBP/JPY’s rise resumes after brief consolidation and reaches as high as 147.34 so far. Intraday bias is back on the upside. As noted before, whole decline from 156.59 could have completed at 139.88, just ahead of 139.29/47 key support zone. Decisive break of 149.50 resistance will confirm our bullish view. On the downside, below 146.24 minor support will turn intraday bias neutral and bring retreat. But further rally will remain in favor as long as 142.58 support holds.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, the decline from 156.69 is seen as corrective move. That is, rise from 122.36 (2016 low), is still expected to extend higher through 156.69. However, sustained break of 139.29/47 should confirm medium term reversal and turn outlook bearish.

Daily Pivots: (S1) 146.13; (P) 146.58; (R1) 146.90; More…

Intraday bias in GBP/JPY remains neutral for consolidation below 147.00 temporary top first. Current development argues that whole decline from 156.59 has completed at 139.88, just ahead of 139.29/47 key support zone. Break of 147.00 will target 149.30 key resistance for confirming our bullish view. On the downside, break of 142.58 support is needed to confirm completion of the rebound from 139.88. Otherwise, further rise remains in favor even in case of deep retreat.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, the decline from 156.69 is seen as corrective move. That is, rise from 122.36 (2016 low), is still expected to extend higher through 156.69. However, sustained break of 139.29/47 should confirm medium term reversal and turn outlook bearish.

GBP?JPY rose further to as high as 147.00 last week before forming a temporary top there and retreated. Initial bias is neutral this week for some consolidations first. The break of 38.2% retracement of 156.59 to 139.88 at 146.26 and medium term falling trend line argues that whole decline from 156.59 has completed at 139.88, just ahead of 139.29/47 key support zone. Downside of retreat should be contained above 142.58 support to bring another rally. Above 147.00 will target 149.30 key resistance for confirming our bullish view.

In the bigger picture, as long as 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) holds, the decline from 156.69 is seen as corrective move. That is, rise from 122.36 (2016 low), is still expected to extend higher through 156.69. However, sustained break of 139.29/47 should confirm medium term reversal and turn outlook bearish.

In the longer term picture, the failure to sustain above 55 month EMA (now at 152.74) is mixing up the outlook. Nonetheless, as long as 139.29 holds, rise from 122.36 is in favor to extend to 50% retracement of 195.86 (2015 high) to 122.36 (2016 low) at 159.11, and possibly further to 61.8% retracement at 167.78 before completion. However, firm break of 139.29 will turn focus back to 116.83/122.36 support zone instead.