DAILY FORECAST FOR GBPJPY Bias: I feel there is still risk of slippage to the 153.48-60 area before a correction Losses have already broken the 154.96 low and this should lead to further losses. I’m not even sure we’ll get much of a pullback but if we do the 155.50-70 area should stall the correction. [...] [...more]
DAILY FORECAST FOR GBPJPY Bias: The breach of 157.07 was very brief and from there was have seen a solid push higher and this does seem to suggest more gains in the short term at least. Support is at 157.90-10 (max 157.60) and while this area supports I feel we’ll see gains extend to 159.67 [...] [...more]
DAILY FORECAST FOR GBPJPY Bias: I am more mixed here with resistance seen at 153.88 and support around 151.00-25 The 151.50-70 pivot support held well for gains to extend higher, although without great momentum, to reach 153.24 this morning. There is risk of bearish divergences developing so do take care since we may well be [...] [...more]
DAILY FORECAST FOR GBPJPY Bias: While 146.44-70 caps I feel we should see losses Price has stalled at the 146.44-70 pivot resistance and while this area does cap I feel we are due a correction lower at the very least and possibly a stronger decline. Immediate support is at 145.60 and loss would imply test [...] [...more]
DAILY FORECAST FOR GBPJPY Bias: While 147.96-05 caps I look for losses to extend to 145.69-99 A cap was seen at 145.84 yesterday and this morning has generated the losses I have been looking for,. These have reached 147.02 so far and while any correction remains below 147.96-05 (max 148.26) I will look for the [...] [...more]
DAILY FORECAST FOR GBPJPY Bias: While 147.05-30 caps the risk is for a break below 145.70 to extend losses to around 142.26-80 Although we saw a minor new low at 145.72 this basically matches the 145.80 low and thus provides a clear bearish signal if broken. I suspect we shall see a retest to the [...] [...more]
DAILY FORECAST FOR GBPJPY Bias: The 140.71-99 area may be tested first but then produce losses below 139 for 137.88 at least Breach of key support has allowed the downside to decline quite sharply and reach 139.00. While the 140.71-99 area caps in any earlier correction I feel there is a good risk that we’ll [...] [...more]
DAILY FORECAST FOR GBPJPY Bias: Mixed – waiting for breaks but with a slight bullish preference Well, we did see the correction extend higher but without a bearish divergence I cannot say for certain that it is complete. As such, while the 137.47-137.88 area supports there may be room for another push higher. A break [...] [...more]
DAILY FORECAST FOR GBPJPY Bias: There seems a stronger risk of a sideways consolidation while overall I begin to feel more bearish Failure to sustain the upside yesterday has forced a deeper pullback. I feel this is risking a sideways consolidation and possibly a more bearish structure. To rescue the bullish structure we’re going to [...] [...more]
DAILY FORECAST FOR GBPJPY Bias: Mixed – waiting for breaks though the upside does still seem to be favored The break above 136.36 has sent price higher to reach 139.14 and while there was a pullback this has stalled at 136.23 and thus the risk does still seem to be higher. The only concern is [...] [...more]
