Daily Pivots: (S1) 195.79; (P) 196.55; (R1) 197.34; More…

Intraday bias in GBP/JPY remains neutral at this point. As noted before, corrective pattern from 180.00 is extending with another rising leg. Further rise is expected as long as 194.04 support holds. On the upside, above 1999.79 will will target channel resistance (now at 203.19).

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

GBP/JPY’s rose further to 198.93 last week as corrective pattern from 180.00 extended with another rising leg. As a temporary top was formed, initial bias is neutral this week first. Further rally will remain in favor as long as 194.04 support holds. Break of 199.79 will target channel resistance (now at 203.09).

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

In the longer term picture, considering bearish divergence condition in W MACD, 208.09 is at least a medium term top. It’s still early to conclude that the up trend from 122.75 (2016 low) has completed. But it’s at least in a medium term corrective phase, with risk of correction to 55 M EMA (now at 172.51).

Daily Pivots: (S1) 194.27; (P) 196.61; (R1) 199.16; More…

GBP/JPY retreated ahead of 199.79 resistance and intraday bias is turned neutral first. Further rally will remain in favor as long as 194.04 support holds. Corrective pattern from 180.00 is extending, and break of 199.79 will target channel resistance (now at 202.84).

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 193.90; (P) 194.84; (R1) 195.60; More…

GBP/JPY’s rally accelerates higher today and intraday bias stays on the upside for 199.79 resistance. Corrective pattern from 180.00 is extending, and break of 199.79 will target channel resistance (now at 202.84. For now, risk will stay on the upside as long as 193.88 support holds, in case of retreat.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 194.57; (P) 195.23; (R1) 195.81; More…

Intraday bias in GBP/JPY remains on the upside for the moment. Rise from 188.07 is seen as another rising leg in the corrective pattern from 180.00. Further rally would be seen to 199.79 resistance. On the downside, break of 192.84 support will turn intraday bias back to the downside for 188.07 support instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 194.18; (P) 195.03; (R1) 196.41; More…

GBP/JPY’s rebound from 188.07 resumed by breaking through 194.98 and intraday bias is back on the upside. Corrective pattern from 180.00 could be extending with another rising level. Further rise should be seen to 199.79 resistance. On the downside, break of 192.84 minor support will turn bias back to the downside for 188.07 instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 192.93; (P) 193.69; (R1) 194.53; More…

Intraday bias in GBP/JPY stays neutral as sideway trading continues. Corrective pattern from 180.00 could be extending with another rising level. Above 194.98 will extend the rise from 188.07 to 199.79 resistance. However, break of 192.35 will turn bias back to the downside for 188.07 instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

GBP/JPY’s rebound from 188.07 extended higher last week and the development argues that corrective pattern from 188.07 is extending with another rising level. Initial bias is neutral this week for some consolidations below 194.98 temporary top. Above there will extend the rise to 199.79 resistance. However, break of 192.35 will turn bias back to the downside for 188.07 instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

In the longer term picture, considering bearish divergence condition in W MACD, 208.09 is at least a medium term top. It’s still early to conclude that the up trend from 122.75 (2016 low) has completed. But it’s at least in a medium term corrective phase, with risk of correction to 55 M EMA (now at 172.51).

Daily Pivots: (S1) 192.60; (P) 193.80; (R1) 194.66; More…

Intraday bias in GBP/JPY is turned neutral again with current retreat. On the downside, break of 192.35 minor support will bring deeper fall to 188.07. Firm break there will revive the bearish case that whole corrective rise from 180.00 has completed with three waves up to 199.79. On the upside, above 194.98 will resume the rebound towards 199.79 resistance.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 193.03; (P) 193.92; (R1) 195.31; More…

GBP/JPY’s break of 55 D EMA mixes up the original bearish outlook. Intraday bias is now mildly on the upside and further rise could be seen towards 199.79 resistance. On the downside, break of 192.35 support will bring deeper fall back to 188.07.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 192.99; (P) 193.57; (R1) 194.67; More…

No change in GBP/JPY’s outlook, as it stays bearish as long as 55 D EMA (now at 193.97) holds. On the downside, below 190.59 minor support will bring retest of 188.07 first. Break there will target 183.70 support next. However, sustained trading above the EMA will bring stronger rebound back to 199.79 resistance instead.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 191.15; (P) 192.28; (R1) 193.96; More…

Intraday bias in GBP/JPY stays neutral for the moment. Recovery from 188.07 might extend higher. But outlook will stay bearish as long as 55 D EMA (now at 193.97) holds. On the downside, below 190.59 minor support will bring retest of 188.07 first. Break there will target 183.70 support next.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 190.36; (P) 191.42; (R1) 192.12; More…

Intraday bias in GBP/JPY remains neutral at this point. Recovery from 188.07 might extend higher. But outlook will stay bearish as long as 55 D EMA (now at 193.97) holds. On the downside, below 190.33 minor support will bring retest of 188.07 first. Break there will target 183.70 support next.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

GBP/JPY edged lower to 188.07 last week as fall from 199.71 extended, but recovered since then. Initial bias remains neutral this week first. While further recovery cannot be ruled out, outlook will stay bearish as long as 55 D EMA (now at 194.04) holds. On the downside, below 190.33 minor support will bring retest of 188.07 first. Break there will target 183.70 support next.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

In the longer term picture, considering bearish divergence condition in W MACD, 208.09 is at least a medium term top. It’s still early to conclude that the up trend from 122.75 (2016 low) has completed. But it’s at least in a medium term corrective phase, with risk of correction to 55 M EMA (now at 172.51).

Daily Pivots: (S1) 190.53; (P) 191.37; (R1) 192.39; More…

Intraday bias in GBP/JPY remains neutral first. While recovery from 188.07 might extend, further decline is expected as long as 55 D EMA (now at 194.07) holds. On the downside, below 190.33 minor support will turn bias to the downside for 188.07, and then 183.70 support. Firm break there will argue that whole decline from 208.09 is resuming, and target a test on 180.00 low next.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 189.91; (P) 190.72; (R1) 192.08; More…

Intraday bias in GBP/JPY remains neutral for consolidations above 188.07 temporary low. Further decline is expected as long as 55 D EMA (now at 194.25) holds. On the downside, below 188.07 temporary low will resume the fall from 199.79 to 183.70 support. Firm break there will argue that whole decline from 208.09 is resuming, and target a test on 180.00 low next.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 188.30; (P) 189.35; (R1) 190.60; More…

Intraday bias in GBP/JPY is turned neutral with current recovery and some consolidations would be seen first. Further decline is expected as long as 55 D EMA (now at 194.36) holds. On the downside, below 188.07 temporary low will resume the fall from 199.79 to 183.70 support. Firm break there will argue that whole decline from 208.09 is resuming, and target a test on 180.00 low next.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 188.07; (P) 189.68; (R1) 190.89; More…

GBP/JPY’s fall from 199.79 is in progress and intraday bias stays on the downside for 183.70 support. Break there will bring retest of 180.00 low. On the upside, above 191.27 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 55 D EMA (now at 194.37) holds, in case of recovery.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 189.79; (P) 191.07; (R1) 192.00; More…

Intraday bias in GBP/JPY remains on the downside at this point. Fall from 199.79 should target 183.70 support. Break there will bring retest of 180.00 low. On the downside, above 192.45 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 55 D EMA (now at 194.73) holds, in case of recovery.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.

Daily Pivots: (S1) 191.58; (P) 192.03; (R1) 192.73; More…

GBP/JPY’s decline from 199.79 continues today and intraday bias stays on the downside. As noted before, corrective rise from 180.00 could have completed with three waves up to 199.79. Deeper decline would be seen to 183.70 support next. On the upside, above 192.45 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 55 D EMA (now at 194.88) holds, in case of recovery.

In the bigger picture, price actions from 208.09 are seen as a correction to whole rally from 123.94 (2020 low). The range of consolidation should be set between 38.2% retracement of 123.94 to 208.09 at 175.94 and 208.09. However, decisive break of 175.94 will argue that deeper correction is underway.