GBP/JPY Daily Outlook
Daily Pivots: (S1) 160.65; (P) 161.13; (R1) 161.86;
Intraday bias in the GBP/JPY remains neutral for the moment. Further rally could still be seen in the cross. But we'd expect strong resistance from 163.05 key resistance level to bring reversal on bearish divergence condition in the daily MACD. Meanwhile, break of 156.63 support will be a strong signal of trend reversal.
In the bigger picture, considering bearish divergence condition in daily and weekly the MACD, the up trend from 116.83 might be close to completion. Break of 156.63 support should confirm medium term topping and bring correction back to 147.61 support and below. In case of another rise, we'd now expect strong resistance from 163.05 to limit upside.
GBP/JPY Hourly Chart" title="GBP/JPY Hourly Chart" width="600" height="600">
GBP/JPY Daily Chart" title="GBP/JPY Daily Chart" width="600" height="600">
EUR/JPY Daily Outlook
Daily Pivots: (S1) 134.85; (P) 135.28; (R1) 135.96;
The EUR/JPY's rally extends to as high as 135.93 so far today and the break of 135.50 confirmed larger up trend resumption. Further rise should be seen but again, we'd continue to expect strong resistance below 139.21 to bring reversal finally. On the downside, below 134.60 minor support will turn bias neutral first. Note that break of 131.21 support should now confirm trend reversal.
In the bigger picture, the EUR/JPY is expected to top out in medium term soon, on lost of upside momentum as seen in daily and weekly MACD. Strong resistance is expected from 139.21 and 61.8% retracement of 169.96 to 94.11 at 140.98 to complete the rally from 94.11. Break of 131.21 would confirm and would bring correction back towards 124.95 support and below. 
EUR/JPY Hourly Chart" title="EUR/JPY Hourly Chart" width="600" height="600">
EUR/JPY Daily Chart" title="EUR/JPY Daily Chart" width="600" height="600">