GBP/JPY Daily Outlook
Daily Pivots: (S1) 166.32; (P) 166.81; (R1) 167.67;
The GBP/JPY's rally continues today and reaches as high as 167.89 so far. Intraday bias remains on the upside for 168.11 long term fibonacci level next. Break will target 170 psychological level. On the downside, break of 163.67 support is needed to signal short term topping. Otherwise, outlook will stay bullish in case of retreat.
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 38.2% retracement of 251.09 to 116.83 at 168.11 to bring medium term topping. But 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) 137.73; (P) 138.25; (R1) 139.23;
The EUR/JPY rally continues today and breaches 139.21 resistance to as high as 139.70 so far. Intraday bias remains on the upside and current rally should target 140.98 long term fibonacci level next. We'd be cautious on strong resistance from there to bring reversal. But break of 137.98 is needed to be the first signal of short term topping. Otherwise, near term outlook will stay bullish in case of retreat.
In the bigger picture, at this point, we'd still expect strong resistance from 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 131.21 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">