The information provided is of general nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information provided, you should consider whether the information is suitable for you and your personal circumstances and if necessary, seek appropriate professional advice. All opinions, conclusions, forecasts or recommendations are reasonably held at the time of compilation but are subject to change without notice. Past performance is not an indication of future performance. Go Markets Pty Ltd, ABN 85 081 864 039, AFSL 254963 is a CFD issuer, and trading carries significant risks and is not suitable for everyone. You do not own or have any interest in the rights to the underlying assets. You should consider the appropriateness by reviewing our TMD, FSG, PDS and other CFD legal documents to ensure you understand the risks before you invest in CFDs. These documents are available here.
Any references to Australian or international shares, sectors, indices, ETFs, crypto-related stocks or other instruments are provided for market commentary and watchlist purposes only and do not constitute a recommendation, offer or solicitation to buy, sell or hold any financial product or adopt any investment strategy. International markets may involve additional risks, including currency fluctuations, regulatory differences, market structure differences, reduced liquidity and higher volatility. Company-specific, sector-specific and macroeconomic risks may also affect performance.
Commentary on geopolitical developments, economic data, central bank decisions, earnings, policy changes and other global or financial market events is based on information available at the time of publication and may change without notice. Such events can lead to sudden market moves, price gaps, reduced liquidity, wider spreads and increased volatility, particularly in leveraged products such as CFDs. Forward-looking statements, expectations and scenario analysis are inherently uncertain and should not be relied on as guarantees of future market behaviour or outcomes.
GBP/JPY Price Forecast: Trendline breakout puts 213.00 in sight
- GBP/JPY rallies for third consecutive day after breaking descending trendline.
- Buyers target 211.28 and 50-day SMA at 211.57 next.
- Break above 212.00 exposes 200-day SMA at 213.00 and 213.50.
The GBP/JPY advances by some 0.16% and extends its rally for the third straight day, with the cross pair trading at 210.93 as it approaches the September 18 high of 211.28, seen as the next key resistance ahead of the 50-day Simple Moving Average (SMA).
GBP/JPY Price Forecast: Technical outlook
Although the cross-pair seems to be gaining traction, a break of key resistance levels is needed for GBP/JPY buyers to retest mid-July or August levels in the 217.40-219.50 area before US and Japanese authorities intervene in the FX markets.
After clearing a downslope resistance trendline drawn from the September 18 highs, the GBP/JPY rallied 140 pips, exposing the 211.00 figure as the next area of interest. Should buyers reclaim the latter, a move to the 50-day SMA at 211.57 is on the cards. This could put into play a test of the 212.00 mark, ahead of the 200-day SMA at 213.00, followed by the 100-day SMA at 213.50.
A bearish scenario resumes if GBP/JPY tumbles back below a downward resistance trendline, near 209.30. Beneath this area emerges the October 8 swing low of 208.20, followed by the September 30 cycle low of 206.89.
GBP/JPY Price Chart – Daily
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.24% | 0.19% | 0.33% | -0.21% | -0.48% | -0.16% | 0.32% | |
| EUR | -0.24% | -0.06% | 0.11% | -0.45% | -0.72% | -0.42% | 0.08% | |
| GBP | -0.19% | 0.06% | 0.15% | -0.39% | -0.68% | -0.35% | 0.13% | |
| JPY | -0.33% | -0.11% | -0.15% | -0.52% | -0.89% | -0.48% | 0.01% | |
| CAD | 0.21% | 0.45% | 0.39% | 0.52% | -0.26% | 0.04% | 0.54% | |
| AUD | 0.48% | 0.72% | 0.68% | 0.89% | 0.26% | 0.32% | 0.83% | |
| NZD | 0.16% | 0.42% | 0.35% | 0.48% | -0.04% | -0.32% | 0.49% | |
| CHF | -0.32% | -0.08% | -0.13% | -0.01% | -0.54% | -0.83% | -0.49% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Related Articles
