Sample Category Title

Pivot (invalidation): 15.6800

Our preference Short positions below 15.6800 with targets at 15.6000 & 15.5200 in extension.

Alternative scenario Above 15.6800 look for further upside with 15.7700 & 15.8100 as targets.

Comment As Long as 15.6800 is resistance, expect a return to 15.6000.

Pivot (invalidation): 1291.50

Our preference Short positions below 1291.50 with targets at 1289.00 & 1285.75 in extension.

Alternative scenario Above 1291.50 look for further upside with 1294.50 & 1297.00 as targets.

Comment The RSI is mixed and calls for caution.

Pivot (invalidation): 2545.00

Our preference Long positions above 2545.00 with targets at 2636.00 & 2685.00 in extension.

Alternative scenario Below 2545.00 look for further downside with 2520.00 & 2473.00 as targets.

Comment The RSI calls for a new upleg.

Pivot (invalidation): 10840.00

Our preference Long positions above 10840.00 with targets at 10960.00 & 11030.00 in extension.

Alternative scenario Below 10840.00 look for further downside with 10747.00 & 10680.00 as targets.

Comment The RSI is around its neutrality area at 50%

Daily Pivots: (S1) 137.61; (P) 138.08; (R1) 138.71; More...

Intraday bias in GBP/JPY remains neutral at this point. In case of another rise, we'd expect strong resistance from 139.88 key resistance to limit upside. On the downside, break of 136.61 minor support will turn bias to the downside for retesting 131.51 low. Overall, larger down trend from 155.59 is expected to resume later after the consolidation completes.

In the bigger picture, corrective medium term rise from 122.36 (2016 low) has completed at 156.69 already. That came after failing to break through 55 month EMA. Fall from 156.59 (2018 high) is seen as resuming the long term down trend from 195.86 (2015 high). Below 131.51 will target 122.36 low first. Break of 122.36 will target 116.83 low first (2011 low). And this will now remain the preferred case as long as 139.88 support turned resistance holds. Sustained break of 139.88 will mix up the outlook and we'll reassess on the final structure of the rebound from 131.51.

Pivot (invalidation): 5.4500

Our preference Short positions below 5.4500 with targets at 5.3970 & 5.3755 in extension.

Alternative scenario Above 5.4500 look for further upside with 5.4790 & 5.5080 as targets.

Comment As Long as 5.4500 is resistance, expect a return to 5.3970.

Pivot (invalidation): 0.7170

Our preference Long positions above 0.7170 with targets at 0.7215 & 0.7245 in extension.

Alternative scenario Below 0.7170 look for further downside with 0.7145 & 0.7115 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 1.3250

Our preference Short positions below 1.3250 with targets at 1.3175 & 1.3150 in extension.

Alternative scenario Above 1.3250 look for further upside with 1.3270 & 1.3300 as targets.

Comment The RSI is bearish and calls for further downside.

Pivot (invalidation): 0.9815

Our preference Long positions above 0.9815 with targets at 0.9850 & 0.9880 in extension.

Alternative scenario Below 0.9815 look for further downside with 0.9785 & 0.9755 as targets.

Comment The RSI is bullish and calls for further advance.

Pivot (invalidation): 108.00

Our preference Long positions above 108.00 with targets at 108.50 & 108.80 in extension.

Alternative scenario Below 108.00 look for further downside with 107.75 & 107.50 as targets.

Comment Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.