GBP/JPY Price Analysis: Could this powerful move lead to a reversal in the pairs fortunes?

  • GBP/JPY has moved over 1% higher on Tuesday.
  • If the daily candle closes near current levels it would engulf the last four sessions price action.

GBP/JPY daily chart

GBP/JPY has had a powerful 150+ pip move higher on Tuesday as the risk sentiment in the market turns positive. GBP has recently cemented its status as a risk currency as it seems to ebb and flow with equities. Obviously the Japanese yen is a safe-haven so this seems to be the ultimate pair to measure the sentiment in the macro markets.

Looking closer a the chart, the blue horizontal line just below 136.00 is going to be a big target for the bulls. On the left-hand side you can see the market has rejected the area on a few occasions in the past. In terms of the price waves, there has been a higher low created but the wave high is pretty far away at 139.74.

The Relative Strength Index is slightly under the 50 area but is tilting high as if it will break the level. The MACD histogram is in the red but the histogram bars are getting smaller. Lastly, the signal lines are just above to break above the mid-line again and if it does it could be seen as a bullish sign.

GBP/JPY Technical Analysis

Additional levels


Today last price 133.62
Today Daily Change 1.32
Today Daily Change % 1.00
Today daily open 132.3
Daily SMA20 134.87
Daily SMA50 133.31
Daily SMA100 134.7
Daily SMA200 137.58
Previous Daily High 132.69
Previous Daily Low 131.96
Previous Weekly High 133.99
Previous Weekly Low 131.77
Previous Monthly High 135.08
Previous Monthly Low 129.32
Daily Fibonacci 38.2% 132.41
Daily Fibonacci 61.8% 132.24
Daily Pivot Point S1 131.94
Daily Pivot Point S2 131.58
Daily Pivot Point S3 131.21
Daily Pivot Point R1 132.68
Daily Pivot Point R2 133.05
Daily Pivot Point R3 133.41



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI drops to fresh weekly lows below $39 amid virus risks, IEA forecast

WTI (August futures on Nymex) extends the steep declines seen on Thursday to drops over 1.50% in the European session this Friday. The oil bears breach the 39 level to hit the lowest levels in eight days at 38.76.

Oil News