GBP/JPY moved above short-term key-resistance at 137.25. It calls for more upside pressure towards 137.88 on the way higher to 140.20 as the next target. The former resistance at 137.25 will now act as support. GBP/JPY continues to move higher. Support is seen at 137.25 and then at 137.02. R3:...
We continue to look for key-support at 136.41 to be able to protect the donwiside for a clear break above the next resistance at 137.20 for the next impulsive rally higher towards 137.88 and 140.20 as the next upside targets. Short-term key support is seen at 136.41 which should continue to protect...
GBP/JPY has broken above short-term key- resistance at 136.40 which is a strong indication that red wave ii has completed and red wave iii now is in motion for a rally towards 143.18 and possibly even higher. Short-term support is now seen at 136.40 with key-support at 135.82. The late must be able...
GBPJPY dipped to a low of 135.38 before starting to move higher again. We are looking for a solid break above minor resistance at 136.4. It will indicate that red wave ii has been completed and red wave iii is in motion for a break above the former peak at 147.72. The next obstacle is seen at...
GBP/JPY resumed the downward movement and broke slightly below the low at 135.64 keeping red wave ii alive. After a break below 135.64, GBP/JPY moves closer to support at 135.38 but we see a clear loss of downside momentum and the possibility of a low is high. The first strong indication of a low...
GBP/JPY dipped just below our target zone between 135.78 - 136.04 (the low was seen at 135.66) before GBP/JPY rallied strongly through minor resistance at 136.54 to confirm the completion of red wave ii and the onset of red wave iii towards 143.93. Short-term, we could see a re-test of the former...
GBP/JPY has almost reached the expected target-zone between 135.78 - 136.04 (the low has been seen at 136.11 till now). As long as minor resistance at 136.54 is able to cap the upside, we could see a final dip into the target-zone to complete red wave ii and set the stage for a new impulsive rally...
GBP/JPY has not yet broken below minor support at 136.77 to confirm that the rally from 133.08 has been a leading diagonal. Taking into consideration that this is the case for EUR/JPY the odds for GBP/JPY to produce a similar pattern is rather high. Therefore, GBP/JPY could break below minor...
GBP/JPY has pushed higher and all we need is a break above minor resistance at 138.31 to invalidate the option of a possible leading diagonal being in play. It also means that as long as minor resistance 138.31 caps the upside the leading diagonal option remains in play and if this is the correct...
We continue to look for a clear break above resistance at 137.42 to gain upside momentum towards 138.67 and ultimately a break above the former peak at 142.72. That said, we need to look closely at, what happens near resistance at 138.28 as the possibility of a leading diagonal always is a...
