The GBP/JPY continued to maintain its weakness , and broke out of triangle pattern as shown on the daily chart below, this scenario builds a pressure on the 137.84 levels.

On the downside, support is at 138.25 ahead of 137.84 (main), losing the key support 137.84 on a daily closing basis would bring more fall towards the 135.88 levels ahead of the131.66 levels.

On the upside , resistance is at 141.70,143.80,144.76 and 145.87(main),to retrieve its strength, the GBP/JPY will have…

Pivot: 142.62

Recommendation: LONG positions above 142.62 with 143.50 & 144.80 as next targets.

Alternative scenario: The downside breakout of 142.62 will open the way to 141.37/139.25.

Comment: As long as the key support 142.62 holds, more gains to 143.50/144.80 levels are suggested, break of the key resistance 144.80 will advance the pair to 148.23 levels,while break of the key support 142.62 will call…

Pivot: 133.48

Recommendations: SHORT positions below 133.48 with 130.90& 128.98 as next targets.

Alternative scenario: The upside breakout of 133.48 will open the way to 136.10/140.00.

Comment: As long as 133.48 holds the pair is under pressure with eyes on 130.00 levels,a daily close above 133.48 will resume the upside move and target…

The GBPJPY builds a strong bullish momentum on a daily basis, pressure will be on the key resistance 128.18, GBPJPY will have to hold above 128.18 and the falling line from 128.83 on a daily closing basis to push the market for further upside gains, if seen this scenario could push the pair further higher towards 128.83 levels, where a breach will turn focus to 129.57,131.82. then 133.24 , Alternatively a failure to hold above 128.18 could mean a return to the 126.70 levels, however, If…

AS shown on the chart posted below, the GBPJPY continued to gain strongly, till stopped by 38.2% retacement of the run (127.10 / 133.48) around 131.00 levels , a clear break above this level may add more bullish momentum and delay the drop testing 133.50 area , but a clear break below 129.55 is supposed to lead for massive bearish move testing the key support 127.10 ..

According to 60 min chart, the pair is rising with low momentum , so a drop may happen any moment with strong…

GBP/JPY's consolidation from 133.48 is still in progress, around 129.00 will bring deeper pull back but , downside is still expected to be contained by 126.54 support and bring rebound.

By taking a quick look to the daily chart:

1- According to daily RSI, the pair is in extended bearish divergence (…

As shown on the weekly chart, the pair is approaching from the key resistance on weekly around 134.50 , 38.2% retracement of (163.06 high of Aug 2009)  and (116.80 low of Sept 2011)

Well , according to momentum indicators , % R indicator suggests bullish breakout at 129.75 , this level is protected by the low…

With Yesterday close 133.60 the pair breached below EMA 50 on daily chart and added strong negativity to the pair , the most thing that need to be watched yesterday's low 132.92 , we only need a daily close below this to support the bearish wave ?!!

Technically , Macd is below the zero line ( today candle )…

GBP/USD & GBP/JPY strong bearish move on the horizon ?!!! (Strong Trend Reversal) especially GBP/JPY , we'll find out the next 24 - 48 hours,  If we got a signal on the daily the pair should move to 130.00 at least and may be further  toward 125.00 -123.00 level ...

Stay tuned ?!!!

Regards

Recommendation: Buy the pair around 135.00  S/L134.00   T/P 137.00 and…

EUR/JPY and GBP/JPY have a strong breakout pattern on 4 hour chart , once the bullish train starts moving I'll post a blog , they may attack 123.00 level and 140.00 level..l guess we're gonna find out the next 24 hours..

OK.. from the chart posted above , we  should easily see the bearish divergence on the 4 hour chart , the pair at this moment is testing the support level around 138.70 level , we may witness a bearish correction or change in direction ...let's go the point ?!!

Moving average in upward trend , Williams…