TRENDING:

GBP/USD

XAU/USD

GBP/JPY extends into further multi-year highs on Thursday

GBP/JPY touches fresh 16-year highs as Yen continues to backslide.
Japanese Retail Trade ticked higher, Tokyo CPI inflation next on the docket.
UK GDP revision slated for Friday, little change expected.

Joshua Gibson FXStreet

GBP/JPY tapped a fresh 16-year high of 203.39 on Thursday as the Yen continues ot get pushed lower across the board. An uptick in Japanese Retail Sales early Thursday failed to spark a recovery in the Yen as JPY traders buckle down for the last print of Japan’s Tokyo Consumer Price Index (CPI) inflation due early Friday.

The UK will also be delivering a fresh revision to first-quarter Gross Domestic Product (GDP) figures, but little change is expected and Q1 UK GDP is expected to hold steady at 0.6%, in-line with the initial print.

Core Tokyo CPI is expected to tick upwards slightly to 2.0% YoY in June, but the upswing is likely not enough to push the Bank of Japan (BoJ) out of its stubborn, long-running hypereasy monetary policy stance. With BoJ reference rates functionally at zero and a significant ratio of Japanese government bonds scooped up by the Japanese central bank itself, the Yen’s battered stance is unlikely to change, regardless of a carousel of increasingly concerned threats of direct intervention in FX markets by Japan’s Ministry of Finance.

Economic Indicator

Tokyo Consumer Price Index (YoY)

The Tokyo Consumer Price Index (CPI), released by the Statistics Bureau of Japan on a monthly basis, measures the price fluctuation of goods and services purchased by households in the Tokyo region. The index is widely considered as a leading indicator of Japan’s overall CPI as it is published weeks before the nationwide reading. The YoY reading compares prices in the reference month to the same month a year earlier. Generally, a high reading is seen as bullish for the Japanese Yen (JPY), while a low reading is seen as bearish.

GBP/JPY technical outlook

The Guppy has traded so firmly traded into the bullish side in one-sided action that the pair has not pulled back to the 200-day Exponential Moving Average (EMA) since the start of 2024 when the pair briefly eased below the 180.00 handle before proceeding to climb over 13% from January’s opening bids at 179.55.

GBP/JPY has set a fresh 16-year high for five consecutive days in lopsided bullish action, and the pair has likewise chalked in nine straight green trading days as the pair continues to climb into multi-year peaks.

GBP/JPY hourly chart

GBP/JPY daily chart

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

Markets move fast. We move first.

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

Editor's Picks

EUR/USD flatlines below 1.1800 amid trading lull, awaits Fed Minutes

EUR/USD trades around a flatline below 1.1800 in European trading on Tuesday. The pair lacks any trading impetus as the US Dollar moves little amid market caution ahead of the Fed's December Meeting Minutes release, which could offer insights into the Federal Reserve’s 2026 outlook.

GBP/USD retakes 1.3500 despite the year-end grind

GBP/USD finds fresh demand and retakes 1.3500 on Tuesday as markets grind through the last trading week of the year. Despite the latest uptick, the pair is unlikely to see further progress due to the year-end holiday volumes.

Gold holds the bounce on Fed rate cut bets, safe-haven flows

Gold holds the rebound near $4,350 in the European trading hours on Tuesday. The precious metal recovers some lost ground after falling 4.5% in the previous session, which was Gold's largest single-day loss since October. Increased margin requirements on gold and silver futures by the Chicago Mercantile Exchange Group, one of the world’s largest trading floors for commodities, prompted widespread profit-taking and portfolio rebalancing.

Tron steadies as Justin Sun invests $18 million in Tron Inc.

Tron (TRX) trades above $0.2800 at press time on Monday, hovering below the 50-day Exponential Moving Average (EMA) at $0.2859.

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).