GBP/JPY dipped through 183.34 to 183.04 last week, but quickly recovered. Initial bias is neutral this week first. On the upside, break of 185.67 resistance will argue that the pull back from 186.75 has completed. Further rise should then be seen through 186.75 to resume larger up trend. However, break of 183.04 will resume the
GBPJPY Outlook
Daily Pivots: (S1) 183.12; (P) 183.95; (R1) 184.51; More… Intraday bias in GBP/JPY is mildly on the downside with breach of 183.34. Correction from 186.75 is extend lower to 55 D EMA (now at 182.22). Nevertheless, break of 185.76 resistance will turn bias back to the upside for retesting 186.75 high instead. In the bigger
Daily Pivots: (S1) 184.08; (P) 184.88; (R1) 185.50; More… GBP/JPY is still bounded in sideway trading and intraday bias remains neutral. On the upside, above 186.04 will argue that larger up trend is ready to resume through 186.75. On the downside, however, break of 183.51 will bring deeper correction to 55 D EMA (now at
Daily Pivots: (S1) 184.54; (P) 185.16; (R1) 186.25; More… Intraday bias in GBP/JPY stays neutral for the moment as sideway trading continues. On the upside, above 186.04 will argue that larger up trend is ready to resume through 186.75. On the downside, however, break of 183.51 will bring deeper correction to 55 D EMA (now
Daily Pivots: (S1) 183.93; (P) 184.60; (R1) 185.13; More… Intraday bias in GBP/JPY remains neutral for the moment. Price actions from 186.75 are viewed as a corrective pattern. Another fall could still be seen and break of 183.35 will turn bias to the downside for 55 D EMA (now at 181.54). Nevertheless, firm break of
Daily Pivots: (S1) 183.81; (P) 184.34; (R1) 184.53; More… Intraday bias in GBP/JPY remains neutral and outlook is unchanged. Risk will stays on the downside as long as 186.75 resistance holds. Corrective pattern from 186.75 would extend with another falling leg before completion. On the downside, break of 183.35 will resume the correction from 186.75
Daily Pivots: (S1) 183.55; (P) 183.98; (R1) 184.60; More… Intraday bias in GBP/JPY remains neutral for the moment. Risk will stays on the downside as long as 186.75 resistance holds. Break of 183.35 will resume the correction from 186.75 short term top to 55 D EMA (now at 181.17) and possibly below. In the bigger