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—FenzoFx—GBP/JPY is pushing toward the previous monthly high at 196.4, making this level fragile as a resistance. This demand zone has been tested 4 times, as shown in the daily chart.
On Friday, the currency pair formed a long-wick bullish candlestick pattern, meaning bulls pushed the price higher. On the other hand, the Stochastic Oscillator is in the overbought territory, meaning the market is saturated with buying pressure.
The critical support level is at 193.8. From a technical perspective, the outlook of the GBP/JPY trend remains bullish as long as the price holds above this level. In this scenario, the 196.4 resistance will likely be breached in the upcoming trading week. In this case, the next bullish target could be 198.3.
Please note that the bullish outlook should be invalidated if GBP/JPY closes and stabilizes below the 193.8 support.
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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