Sample Category Title

Pivot (invalidation): 110.15

Our preference Short positions below 110.15 with targets at 109.55 & 109.15 in extension.

Alternative scenario Above 110.15 look for further upside with 110.50 & 110.85 as targets.

Comment The index currently faces a challenging resistance area at 110.15.

Pivot (invalidation): 1.3175

Our preference Long positions above 1.3175 with targets at 1.3225 & 1.3245 in extension.

Alternative scenario Below 1.3175 look for further downside with 1.3145 & 1.3110 as targets.

Comment A support base at 1.3175 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 1.1310

Our preference Short positions below 1.1310 with targets at 1.1280 & 1.1270 in extension.

Alternative scenario Above 1.1310 look for further upside with 1.1320 & 1.1340 as targets.

Comment A break below 1.1280 would trigger a drop towards 1.1270.

Pivot (invalidation): 5.7350

Our preference Short positions below 5.7350 with targets at 5.6200 & 5.5800 in extension.

Alternative scenario Above 5.7350 look for further upside with 5.7700 & 5.8100 as targets.

Comment As Long as the resistance at 5.7350 is not surpassed, the risk of the break below 5.6200 remains high.

Pivot (invalidation): 0.7095

Our preference Short positions below 0.7095 with targets at 0.7060 & 0.7040 in extension.

Alternative scenario Above 0.7095 look for further upside with 0.7115 & 0.7135 as targets.

Comment As Long as the resistance at 0.7095 is not surpassed, the risk of the break below 0.7060 remains high.

Daily Pivots: (S1) 144.58; (P) 145.17; (R1) 145.79; More...

Intraday bias in GBP/JPY remains neutral at this point. On the downside, decisive break of 143.72 support will indicate near term reversal, after rejection by 149.48 key resistance. In that case, intraday bias will be turned to the downside for 141.00 support first. On the upside, decisive break of 149.48 key resistance will carry larger bullish implication and target 156.58 resistance next.

In the bigger picture, focus is now staying on 149.98 key resistance. Decisive break there should confirm that that medium term fall from 156.59 (2018 high) has completed at 131.51 already. Rise from 131.51 is then seen as the third leg of the corrective pattern from 122.36 (2016 low). GBP/JPY should then target 156.59 and above. However, rejection by 149.98 will retain medium term bearishness and could extend the fall from 156.59 through 131.51 to 122.36.

Pivot (invalidation): 1.3395

Our preference Long positions above 1.3395 with targets at 1.3470 & 1.3500 in extension.

Alternative scenario Below 1.3395 look for further downside with 1.3370 & 1.3345 as targets.

Comment Technically the RSI is above its neutrality area at 50.

Pivot (invalidation): 0.9925

Our preference Long positions above 0.9925 with targets at 0.9950 & 0.9970 in extension.

Alternative scenario Below 0.9925 look for further downside with 0.9910 & 0.9895 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 2822.50

Our preference Short positions below 2822.50 with targets at 2783.00 & 2767.25 in extension.

Alternative scenario Above 2822.50 look for further upside with 2844.75 & 2860.25 as targets.

Comment The RSI is bearish and calls for further decline.

Pivot (invalidation): 11480.00

Our preference Short positions below 11480.00 with targets at 11300.00 & 11210.00 in extension.

Alternative scenario Above 11480.00 look for further upside with 11620.00 & 11720.00 as targets.

Comment As Long as the resistance at 11480.00 is not surpassed, the risk of the break below 11300.00 remains high.