In this GBPJPY analysis, we review the currency pair from technical and fundamental aspects. It also features trend examination, price forecasts, support and resistance levels, and trading signals.
We update this page regularly on Mondays to ensure you have the latest information by covering the price changes. That being said, this is a long-term technical analysis that will be valid for the whole trading week.
GBPJPY Analysis & Live Chart
GBPJPY Technical Analysis
FenzoFx—GBP/JPY declined from previous monthly highs, currently trading at approximately 197.3. Today, the currency pair broke below Friday’s low at 198.0, which escalated the downtrend.
The Stochastic Oscillator is in oversold territory, meaning the Japanese Yen is overpriced in the short term. Additionally, the pair is nearing the 196.9 high-volume area, which could result in a price bounce upward.
The immediate resistance is at 198.0. From a technical perspective, it is expected for the price to test this level before the downtrend resumes. In this scenario, GBP/JPY has the potential to erase some of its recent losses toward 198.0, then aim downward toward the previous week’s low at 196.0.
Please note that the bearish outlook should be invalidated if GBP/JPY exceeds the previous monthly high at 198.9.
Market Trends Through Technical Indicators
The widget below calculates market trends using multiple indicators, such as moving averages and oscillators. It allows you to easily review market trends across various timeframes.
The larger the timeframe, the more accurate the signals tend to be. Integrating this widget into your strategy and considering our fundamental news can help you make well-informed decisions.
GBPJPY Economic Calendar
Technical analysis aside, which is vital for triggering an order in the Forex market, economic news is the Fundamentals of price movements. We use reliable resources to investigate the latest financial updates before our analysts draw lines on the chart.
The table below lists the economic events for the GBPJPY currency pair, including all important and high-impact news relevant to the United Kingdom and Japan. Click on each event to expand it for more details.
This economic calendar is a widget from TradingView, a trustworthy financial news source.
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