Sample Category Title

Pivot (invalidation): 12360.00

Our preference Long positions above 12360.00 with targets at 12460.00 & 12530.00 in extension.

Alternative scenario Below 12360.00 look for further downside with 12315.00 & 12275.00 as targets.

Comment The RSI shows upside momentum.

Pivot (invalidation): 0.7225

Our preference Short positions below 0.7225 with targets at 0.7200 & 0.7185 in extension.

Alternative scenario Above 0.7225 look for further upside with 0.7240 & 0.7260 as targets.

Comment As Long as the resistance at 0.7225 is not surpassed, the risk of the break below 0.7200 remains high.

Pivot (invalidation): 1.3045

Our preference Short positions below 1.3045 with targets at 1.3015 & 1.2990 in extension.

Alternative scenario Above 1.3045 look for further upside with 1.3080 & 1.3105 as targets.

Comment The RSI is bearish and calls for further downside.

Pivot (invalidation): 0.9720

Our preference Long positions above 0.9720 with targets at 0.9800 & 0.9835 in extension.

Alternative scenario Below 0.9720 look for further downside with 0.9695 & 0.9665 as targets.

Comment The break above 0.9720 is a positive signal that has opened a path to 0.9800.

Daily Pivots: (S1) 148.11; (P) 148.61; (R1) 148.93; More...

Intraday bias in GBP/JPY remains neutral as consolidation from 149.70 is extending. Deeper fall could be seen but further rise is still expected as long as 145.67 resistance turned support holds. Break of 149.70 will target 153.84/156.69 resistance zone. However, break of 145.67 will suggests that the rebound from 139.88 has completed and turn near term outlook bearish again.

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): 113.25

Our preference Long positions above 113.25 with targets at 113.80 & 114.00 in extension.

Alternative scenario Below 113.25 look for further downside with 113.05 & 112.85 as targets.

Comment The RSI is bullish and calls for further upside.

Pivot (invalidation): 1.3110

Our preference Short positions below 1.3110 with targets at 1.3065 & 1.3030 in extension.

Alternative scenario Above 1.3110 look for further upside with 1.3140 & 1.3165 as targets.

Comment A break below 1.3065 would trigger a drop towards 1.3030.

Daily Pivots: (S1) 131.49; (P) 132.09; (R1) 132.61; More....

Intraday bias in EUR/JPY remains neutral as consolidation from 133.12 is extending. While deeper pull back could be seen, as long as 130.86 resistance turned support holds, further rally is expected. On the upside, above 133.12 will target 100% projection of 124.89 to 130.86 from 127.85 at 133.82 first. Break will target 137.49 high. However, firm break of 130.86 will dampen this bullish view and turn focus back to 127.85 support.

In the bigger picture, current development suggests that EUR/JPY has 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 will target 141.04/149.76 resistance zone next. This will now be the preferred case as long as 127.85 near term support holds.

Pivot (invalidation): 1.1670

Our preference Short positions below 1.1670 with targets at 1.1615 & 1.1585 in extension.

Alternative scenario Above 1.1670 look for further upside with 1.1695 & 1.1725 as targets.

Comment The break below 1.1670 is a negative signal that has opened a path to 1.1615.

The dollar hit new nine-month high against yen at 113.64 in Asian session on Friday, in extension of 0.58% advance previous day.

Hawkish Fed and upbeat US data boosted the greenback, which generated strong bullish signal on Thursday's close above pivotal barriers at 113.17/30 (19 July high/Fibo 61.8% of 118.66/104.63 descend/weekly 200SMA).

Bulls show hesitation on approach to next target at 112.74 (12 Dec 2017 high), with consolidation being so far contained above broken Fibo barrier (113.30), but deeper pullback cannot be ruled out as slow stochastic is reversing from overbought territory on daily chart and pre-weekend profit-taking could delay bulls.

Also, better than expected Japan's housing data in Aug, offered temporary support to yen.

Dips could extend towards 113.00 zone on break below initial supports at 113.30/17, with extended pullback expected to find support above rising 10SMA (112.67), to mark the action as positioning for fresh upside.

Clear break above 113.74 barrier would expose target at 114.73 (06 Nov 2017 high).

The pair is on track for the third weekly strong bullish close which supports scenario of further advance, with weekly close above broken weekly 200SMA to provide strong bullish signal.

Res: 113.64, 113.74, 114.00, 114.36
Sup: 113.33, 113.24, 113.04, 112.67