On Thursday, the GBP/JPY currency pair experienced fluctuations, ultimately stabilizing at 208.87, after reaching a low of 208.20 earlier in the day and peaking at 209.40.
GBP/JPY Price Forecast: Technical Outlook
Currently, the GBP/JPY is trending bearish, having fallen more than 4.46% after a two-day coordinated intervention between the US and Japan. This move pushed the pair toward a yearly low of 207.10, reached on September 8.
Since that low, there has been some recovery, but prices are still holding within a familiar range. Notably, it touched an eight-day high of 210.20 on October 7 before slipping back below 209.00.
The Relative Strength Index (RSI) is hovering around 43, indicating a bearish bias but suggesting potential consolidation ahead. However, a crossover where the 50-day Simple Moving Average (SMA) falls below the 200-day SMA points to bearish dominance in the market.
For sellers to resume a bearish trend, they would need to break below the October 8 low of 208.20, aiming for the 208.00 mark. If downward pressure continues, the September 30 low of 206.89 would be the next support level to watch.
On the other side, if buyers can push prices past 209.50, we might see a move toward 210.00. Surpassing this level could mean targeting the September 18 high at 211.28, followed closely by the 50-day SMA at 211.98.
GBP/JPY Price Chart – Technical Outlook
Japanese Yen Price Today
The following table outlines the percentage changes of the Japanese Yen (JPY) against various major currencies today, showing that the Yen was strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.15% | -0.12% | -0.14% | -0.21% | 0.14% | -0.12% | -0.24% | |
| EUR | 0.15% | 0.03% | 0.02% | -0.08% | 0.22% | 0.06% | -0.08% | |
| GBP | 0.12% | -0.03% | 0.00% | -0.08% | 0.17% | 0.02% | -0.10% | |
| JPY | 0.14% | -0.02% | 0.00% | -0.11% | 0.19% | -0.01% | -0.08% | |
| CAD | 0.21% | 0.08% | 0.08% | 0.11% | 0.31% | 0.14% | -0.02% | |
| AUD | -0.14% | -0.22% | -0.17% | -0.19% | -0.31% | -0.13% | -0.28% | |
| NZD | 0.12% | -0.06% | -0.02% | 0.00% | -0.14% | 0.13% | -0.07% | |
| CHF | 0.24% | 0.08% | 0.10% | 0.08% | 0.02% | 0.28% | 0.07% |
This heat map illustrates the percentage changes of major currencies with one as the base and another as the quote. For example, moving from the Japanese Yen in the left column to the US Dollar across the top row reflects the percentage change for JPY compared to USD.
