Sample Category Title

Daily Pivots: (S1) 136.30; (P) 136.87; (R1) 137.23; More...

Intraday bias in GBP/JPY stays on the downside at this point. Fall from 148.87 is resuming and deeper decline should be see to 131.51 low. On the upside, break of 138.32 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, current development suggests that GBP/JPY's medium term fall from 156.59 (2018 high) is still in progress. Break of 131.51 will target 122.36 (2016 low). Structure of such decline is corrective looking so far, arguing that it's just the second leg of consolidation from 122.36. Thus, we'd expect strong support from 122.36 to contain downside to bring reversal.

Pivot (invalidation): 52.20

Our preference Long positions above 52.20 with targets at 53.00 & 53.45 in extension.

Alternative scenario Below 52.20 look for further downside with 51.70 & 51.30 as targets.

Comment The RSI is mixed with a bullish bias.

Pivot (invalidation): 14.9300

Our preference Short positions below 14.9300 with targets at 14.7800 & 14.7200 in extension.

Alternative scenario Above 14.9300 look for further upside with 15.0000 & 15.1100 as targets.

Comment As Long as the resistance at 14.9300 is not surpassed, the risk of the break below 14.7800 remains high.

Pivot (invalidation): 1347.00

Our preference Short positions below 1347.00 with targets at 1336.00 & 1330.00 in extension.

Alternative scenario Above 1347.00 look for further upside with 1351.00 & 1356.00 as targets.

Comment The RSI is mixed to bearish.

Daily Pivots: (S1) 121.43; (P) 121.86; (R1) 122.15; More....

Intraday bias in EUR/JPY remains on the downside at this point. Corrective recovery from 120.78 should have completed at 123.18 already. Deeper fall should be seen to 120.78 low first. Break will resume larger fall from 127.50 and target 118.62 low next. On the upside, above 122.17 minor resistance delay the bearish case, turn intraday bias neutral and bring more consolidations first.

In the bigger picture, down trend from 137.49 is still in progress with the cross staying inside long term falling channel. Break of 118.62 will extend the fall to 109.48 (2016 low). On the upside, break of 127.50 resistance is needed to be the first sign of medium term reversal. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 0.8894; (P) 0.8907; (R1) 0.8923; More...

With 0.8829 minor support intact, further rise is expected in EUR/GBP despite diminishing upside momentum. Current rally from 0.8472 should target 0.9101 key resistance. Considering bearish divergence condition in 4 hour MACD, we'd be cautious on strong resistance from there to limit upside to bring pullback. On the downside, though, break of 0.8829 support will indicate short term topping and bring lengthier consolidation before staging another rise.

In the bigger picture, medium term decline from 0.9305 (2017 high) is seen as a corrective move. No change in this view. Current development argues that it might have completed with three waves down to 0.8472, just ahead of 38.2% retracement of 0.6935 (2015 low) to 0.9306 at 0.8400, after hitting 55 month EMA (now at 0.8527). Decisive break of 0.9101 resistance will confirm this bullish case. Nevertheless, as EUR/GBP is still staying inside long term falling channel, correction from 0.9305 could still extend to 0.8400 fibonacci level before completion, if upside is rejected by 0.9101.

Pivot (invalidation): 2910.00

Our preference Short positions below 2910.00 with targets at 2871.50 & 2851.50 in extension.

Alternative scenario Above 2910.00 look for further upside with 2935.00 & 2945.00 as targets.

Comment The RSI is mixed to bearish.

Pivot (invalidation): 12130.00

Our preference Short positions below 12130.00 with targets at 12000.00 & 11940.00 in extension.

Alternative scenario Above 12130.00 look for further upside with 12180.00 & 12225.00 as targets.

Comment The RSI is mixed.

Daily Pivots: (S1) 1.6266; (P) 1.6315; (R1) 1.6352; More...

Intraday bias in EUR/AUD remains neutral for consolidation below 1.6363 temporary top. Downside of retreat should be contained well above 1.6052 support to bring rise resumption. On the upside, break of 1.6363 will turn bias back to the upside for 61.8% projection of 1.5683 to 1.6262 from 1.6052 at 1.6410 first. Break will target 100% projection at 1.6631 next.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

Pivot (invalidation): 5.8940

Our preference Long positions above 5.8940 with targets at 5.9320 & 5.9580 in extension.

Alternative scenario Below 5.8940 look for further downside with 5.8570 & 5.8360 as targets.

Comment The RSI is bullish and calls for further upside.