|

GBP/JPY double top at 157.76 weekly resistance? [Video]

Overview:

Watch the video for a summary of this week’s news releases and a complete top down analysis of the GBPJPY.

GBPJPY Monthly:

Monthly support at 148.45, resistance at 156.07, 156.59, and 158.21.

Price has rallied back to the 156.07 to 158.21 monthly resistance area and is range bound.

GBPJPY Weekly:

Weekly support at 152.84 and 149.00, resistance at 157.76.

Price may be forming a double top at the 157.76 weekly resistance level. A break of last week’s low would start to confirm the reversal.

GBPJPY Daily:

Daily support at 152.89, resistance at 157.76.

Daily chart is in an uptrend but is trading in the 156.07 to 158.21 monthly resistance area. Price has previously reversed from this area twice, proving that this is a strong resistance area.

Looking for price to fail at the 156.07 monthly resistance level and move back down the range.

Short term target 152.84 weekly support. Long term target 149.00 weekly support.

Watch the video for a full break down of my analysis on how you could trade this pair to the downside based on the 4 hour chart.

Author

Duncan Cooper

Duncan Cooper

ACY Securities

Duncan Cooper is a full-time trader and mentor. He has been actively trading the financial markets for more than 15 years and has traded stocks, options, futures, and the Forex Market since 2005.

More from Duncan Cooper
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD holds steady above 1.1750 as traders await FOMC Minutes

The EUR/USD pair holds steady near 1.1770 during the early Asian session on Tuesday. Traders continue to price in the prospect of further rate cuts by the US Federal Reserve in 2026, following the 25-basis-point rate reduction delivered at the December meeting. The release of the Federal Open Market Committee Minutes will be in the spotlight later on Tuesday.

GBP/USD finds key support near 1.35 despite year-end grind

GBP/USD remains bolstered on the high end as markets grind through the last trading week of the year. Cable caught a bullish tilt to keep price action on the high side of the 1.3500 handle, though year-end holiday volumes are unlikely to see significant progress in either direction as 2025 draws to a close.

Gold rebounds to near $4,350 after Monday's 4+% correction

Gold is bouncing to near $4,350 early Tuesday, helped by renewed US Dollar weakness and a dismal mood. Gold was hit sharply by profit-taking on Monday during US trading hours and retreated towards $4,300, where buyers reappeared.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries, adoption of AI and tokenization of Real-World-Assets.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).