Sample Category Title

Pivot (invalidation): 69.85

Our preference Short positions below 69.85 with targets at 68.90 & 68.52 in extension.

Alternative scenario Above 69.85 look for further upside with 70.25 & 70.75 as targets.

Comment As Long as 69.85 is resistance, look for choppy price action with a bearish bias.

Pivot (invalidation): 14.6200

Our preference Short positions below 14.6200 with targets at 14.4900 & 14.4300 in extension.

Alternative scenario Above 14.6200 look for further upside with 14.7100 & 14.7900 as targets.

Comment The RSI advocates for further downside.

Pivot (invalidation): 1221.50

Our preference Long positions above 1221.50 with targets at 1226.00 & 1228.50 in extension.

Alternative scenario Below 1221.50 look for further downside with 1220.00 & 1218.50 as targets.

Comment The RSI shows upside momentum.

Daily Pivots: (S1) 145.70; (P) 146.65; (R1) 147.23; More...

GBP/JPY breaches 145.67 resistance turned support briefly but quickly recovered. Intraday bias stays neutral first with focus on 145.67. Decisive break there will suggest that the rebound from 139.88 has completed and turn near term outlook bearish again. GBP/USD should target 142.59 support next. On the upside, break of 147.57 will turn bias back to the upside again for 149.70.

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.

Pivot (invalidation): 112.85

Our preference Short positions below 112.85 with targets at 112.35 & 112.20 in extension.

Alternative scenario Above 112.85 look for further upside with 113.10 & 113.30 as targets.

Comment The RSI shows downside momentum.

Daily Pivots: (S1) 128.96; (P) 129.59; (R1) 129.97; More....

EUR/JPY's recovery was limited below 130.29 minor resistance and intraday bias stays neutral. Another fall is mildly in favor with 130.29 intact. Below 128.32 will resume the decline from 133.12 to 127.85 support first. Break will confirm completion of rebound from 124.89 at 133.12 and bring retest of this low. On the upside, though, above 130.29 will in turn suggest completion of fall from 133.12. In this case, intraday bias will be turned back to the upside for retesting 133.12 high.

In the bigger picture, current development suggests that EUR/JPY could have defended key support level of 124.08 key resistance turned support. And, the larger up trend from 109.03 (2016 low) is still in progress. Firm break of 137.49 structural resistance will target 141.04/149.76 resistance zone next. This will be the preferred case as long as 127.85 near term support holds. However, break of 127.85 will turn focus back to 124.08 key support level.

Pivot (invalidation): 1.3015

Our preference Short positions below 1.3015 with targets at 1.2950 & 1.2900 in extension.

Alternative scenario Above 1.3015 look for further upside with 1.3050 & 1.3090 as targets.

Comment A break below 1.2950 would trigger a drop towards 1.2900.

Pivot (invalidation): 1.1485

Our preference Short positions below 1.1485 with targets at 1.1455 & 1.1430 in extension.

Alternative scenario Above 1.1485 look for further upside with 1.1520 & 1.1550 as targets.

Comment A break below 1.1455 would trigger a drop towards 1.1430.

Daily Pivots: (S1) 0.8813; (P) 0.8836; (R1) 0.8865; More...

Intraday bias in EUR/GBP remains mildly on the upside with 0.8801 minor support intact. Whole fall from 0.9097 might be completed. Rebound from 0.8722 should target 38.2% retracement of 0.9097 to 0.8722 at 0.8865. Break will pave the way to 61.8% retracement at 0.8954 and above. On the downside, however, break of 0.8801 minor support will turn bias back to the downside for 0.8722 and possibly below.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). Current development suggests that fall from 0.9303, as a down leg in the pattern, is still in progress. But in case of deeper fall, downside should be contained by 0.8116 cluster support, 50% retracement of 0.6935 (2015 low) to 0.9304 at 0.8120, to bring rebound. On the upside, break of 0.9097 will target 0.9304 resistance instead.

Pivot (invalidation): 2780.00

Our preference Short positions below 2780.00 with targets at 2749.00 & 2728.00 in extension.

Alternative scenario Above 2780.00 look for further upside with 2798.00 & 2818.00 as targets.

Comment The RSI is bearish and calls for further decline