GBP/JPY Daily Outlook
Daily Pivots: (S1) 167.03; (P) 167.46; (R1) 168.08;
The GBP/JPY's rally continues today and reaches as high as 168.53 so far. Intraday bias remains on the upside for 100% projection of 147.61 to 159.98 from 156.63 at 169.00 next. Break will target 170 psychological level. On the downside, below 165.96 will be an early sign of near term topping and will turn bias back to the downside for pull back.
In the bigger picture, there is no clear sign of topping and indeed, the cross might be building upside momentum again. We'd be cautious on resistance from around 38.2% retracement of 251.09 to 116.83 at 168.11 to bring medium term topping. But, a sustained break there will pave the way to 50% retracement at 183.96 and above.
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EUR/JPY Daily Outlook
Daily Pivots: (S1) 138.87; (P) 139.28; (R1) 139.61;
With 137.98 minor support intact, further rally is expected in the EUR/JPY. But again, we'd be very cautious on strong resistance from long term fibonacci level at 140.98 to bring reversal. Break of 137.98 support will be the first sign of reversal and turn bias to the downside for 135.50 resistance turned support.
In the bigger picture, at this point, we'd still expect strong resistance between 139.21 and 61.8% retracement of 169.96 to 94.11 at 140.98 to complete the rally from 94.11 and form a medium term top. Break of 135.50 support will bring correction back to 124.95 and below. Though, the uptrend from 94.11 should resume after completing the anticipated correction. However, a sustained break of 140.98 will target 76.4% retracement at 152.59. 
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EUR/JPY Daily Chart" title="EUR/JPY Daily Chart" width="600" height="600">