GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.44; (P) 136.00; (R1) 136.80; More…

GBP/JPY recovered to 137.00 but couldn’t sustain above 136.46 resistance and retreated. Intraday bias stays neutral first. On the upside, break of 137.00 should now indicate short term bottoming and turn bias back to the upside for stronger rebound back to retest 142.71. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.44; (P) 136.00; (R1) 136.80; More…

Intraday bias in GBP/JPY remains neutral with focus on 136.46 resistance. Decisive break there will indicate short term bottoming and turn bias back to the upside for stronger rebound back to retest 142.71. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.43; (P) 135.85; (R1) 136.27; More…

GBP/JPY’s rebound from 133.03 is still in progress but fails to take out 136.46 resistance so far. Intraday bias remains neutral and further decline is in favor. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next. However, firm break of 136.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.44; (P) 135.33; (R1) 136.30; More…

Intraday bias in GBP/JPY stays neutral first and further decline is expected as long as 136.46 resistance holds. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next. However, firm break of 136.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 133.96; (P) 134.39; (R1) 134.95; More…

Intraday bias in GBP/JPY remains neutral for some more consolidations. Further decline is expected as long as 136.46 resistance holds. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next. However, firm break of 136.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Weekly Outlook

GBP/JPY edged lower to 133.03 last week but turned sideway since then. Initial bias remains neutral this week for some consolidations. Further decline is expected as long as 136.46 resistance holds. On the downside, break of 133.03 will resume the fall from 142.71 and target 61.8% retracement of 123.94 to 142.71 at 131.11 next. However, firm break of 136.46 will indicate short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

In the longer term picture, repeated rejection by 55 month EMA indicate long term bearishness in the cross. Down trend from 251.09 (2007 high) should eventually resume through 122.75 to 116.83 (2011 low) and below. However, sustained break of 55 month EMA (now at 144.42) will dampen this view and could open up further rise back to 195.86 (2015 high).

GBP/JPY Daily Outlook

Daily Pivots: (S1) 133.74; (P) 134.21; (R1) 134.80; More…

Intraday bias in GBP/JPY remains neutral at this point and some consolidations could be seen. But further decline is expected as long as 136.46 resistance holds. As noted before, whole corrective rebound from 123.94 should have completed at 142.71. Break of 133.03 will resume the fall from 142.71 to 61.8% retracement of 123.94 to 142.71 at 131.11 next. Nevertheless, firm break of 136.46 will dampen this bearish view and turn bias back to the upside for rebound.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 133.27; (P) 133.94; (R1) 134.74; More…

A temporary low is in place at 133.03 on loss of downside momentum. Intraday bias in GBP/JPY is turned neutral first. Further decline is expected as long as 136.46 resistance holds. As noted before, whole corrective rebound from 123.94 should have completed at 142.71. Break of 133.03 will resume the fall from 142.71 to 61.8% retracement of 123.94 to 142.71 at 131.11 next. Nevertheless, firm break of 136.46 will dampen this bearish view and turn bias back to the upside for rebound.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 133.00; (P) 133.69; (R1) 134.34; More…

GBP/JPY’s fall from 142.71 is still in progress and intraday bias stays on the downside. As noted before, whole corrective rebound from 123.94 should have completed at 142.71. Deeper fall would be seen to 61.8% retracement of 123.94 to 142.71 at 131.11 next. On the upside, above 135.41 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 133.35; (P) 134.34; (R1) 135.14; More…

Intraday bias in GBP/JPY remains on the downside as fall from 142.71 is in progress. As noted before, whole corrective rebound from 123.94 should have completed at 142.71. Deeper fall would be seen to 61.8% retracement of 123.94 to 142.71 at 131.11 next. On the upside, above 135.41 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.68; (P) 135.42; (R1) 135.89; More…

Intraday bias in GBP/JPY stays on the downside at this point. As noted before, whole corrective rebound from 123.94 should have completed at 142.71. Deeper fall would be seen to 61.8% retracement of 123.94 to 142.71 at 131.11 next. On the upside, above 136.58 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Weekly Outlook

GBP/JPY’s decline form 142.71 resumed last week and the development now argues that whole rebound from 123.94 has completed. Initial bias stays on the downside this week for 61.8% retracement of 123.94 to 142.71 at 131.11. On the upside, above 136.58 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, rise from 123.94 is seen only as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

In the longer term picture, repeated rejection by 55 month EMA indicate long term bearishness in the cross. Down trend from 251.09 (2007 high) should eventually resume through 122.75 to 116.83 (2011 low) and below. However, sustained break of 55 month EMA (now at 144.65) will dampen this view and could open up further rise back to 195.86 (2015 high).

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.88; (P) 135.56; (R1) 136.53; More…

Further fall is expected in GBP/JPY with 136.58 minor resistance intact. Current development argues that whole corrective rebound from 123.94 has completed. Decline in 142.71 should target 61.8% retracement of 123.94 to 142.71 at 131.11. On the upside, above 136.58 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, rise from 123.94 is still seen as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Mid-Day Outlook

Daily Pivots: (S1) 135.64; (P) 136.05; (R1) 136.55; More…

GBP/JPY’s fall from 142.71 resumes with a firm break of 38.2% retracement of 123.94 to 142.71 at 135.53. Intraday bias is now back on the downside. Current development argues that whole corrective rebound from 123.94 has completed. Further fall would be seen to 61.8% retracement at 131.11 next. On the upside, above 136.58 minor resistance will turn bias neutral and bring consolidations, before staging another fall.

In the bigger picture, rise from 123.94 is still seen as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.64; (P) 136.05; (R1) 136.55; More…

Intraday bias in GBP/JPY remains neutral at this point. Further fall will remain mildly in favor as long as 138.38 minor resistance holds. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still seen as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.41; (P) 135.93; (R1) 136.43; More…

Intraday bias in GBP/JPY stays neutral first. Further fall will remain mildly in favor as long as 138.38 minor resistance holds. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still seen as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.36; (P) 135.98; (R1) 136.40; More…

Intraday bias in GBP/JPY remains neutral for the moment. Further fall will remain mildly in favor as long as 138.38 minor resistance holds. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still seen as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Daily Outlook

Daily Pivots: (S1) 135.42; (P) 136.00; (R1) 136.43; More…

Intraday bias in GBP/JPY is turned neutral as it lost momentum after hitting 38.2% retracement of 123.94 to 142.71 at 135.53. Further fall will remain mildly in favor as long as 138.38 minor resistance holds. Sustained break of 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still seen as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

GBP/JPY Weekly Outlook

GBP/JPY’s decline from 142.71 accelerated lower last week. Initial bias stays on the downside this week first. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still seen as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.

In the longer term picture, repeated rejection by 55 month EMA indicate long term bearishness in the cross. Down trend from 251.09 (2007 high) should eventually resume through 122.75 to 116.83 (2011 low) and below. However, sustained break of 55 month EMA (now at 144.65) will dampen this view and could open up further rise back to 195.86 (2015 high).

GBP/JPY Daily Outlook

Daily Pivots: (S1) 134.95; (P) 136.65; (R1) 137.73; More…

GBP/JPY’s fall resumed after brief consolidation and intraday bias is break of the downside. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.94 has completed. Deeper fall could then be seen to 61.8% retracement at 131.11 next. Though, strong rebound from current level, followed by break of 138.38 minor resistance, will turn bias back to the upside for retesting 142.71 instead.

In the bigger picture, rise from 123.94 is still seen as a rising leg of the sideway consolidation pattern from 122.75 (2016 low). As long as 147.95 resistance holds, an eventual downside breakout remains in favor. However, firm break of 147.95 will raise the chance of long term bullish reversal. Focus will then be turned to 156.59 resistance for confirmation.