Gbp/Jpy

Outlook will remain cautiously bearish as long as 130.83 resistance holds and GBP/JPY is still in favor to make another low below 122.15.

we can notice from the chart that the pair has closed under 126.00 , that's mean the down trend is expected and the pair might head to 125.70 then 125.40 , however the pair made a hourly correction

The pair traded with a positive bias since Friday evening approaching a previously breached horizontal support turned into resistance at 125.65.

The GBPJPY has been stepping higher today and moves toward what is shaping up as key resistance. The price has 38.2% retracement, the 200 hour MA and the channel trendline all converging against the 126.16 area

GBP/JPY remains bearish after its rebound stalled around resistance coming in from the 200 day moving average (currently at 131.24).

as we can see on the chart , the pair is trading under the level of 126.00 , any way if the pair succeeded in breaking 126.00 , it will continue in it's up movements heading to 126.50 and then 127.00

Intraday trade:

If a M15 close above 125.96 Buy only and do not sell. If price closes back below it again do nothing.

If a M15 close below 125.57 sell only and do not buy. If price closes back above it again do nothing

The range 125.96 and 125.57 is neutral area, any trade done in between is personal decision and not part of this analysis

we can see that the pair has closed it's daily candle above 126.00 . so , that's means that up trend is expected and the pair might head to 126.50 and then 126.80 ,but also the hourly correction is expected before continue in the up trend

Uptrend is still intact in a triangle configuration. It should continue to rally to 126.56 or 126.78 if support around 126.04 hold. After which a pullback to 126.04 - 125.84 zone is possible.

The GBP/JPY is also rallying in a channel, or perhaps a rising wedge seen in the 1H chart. the RSI has just tagged 70, and the price action just crossed the 200SMA.