GBP/JPY Price Analysis: Oscillates below the Kumo, with buyers eyeing 181.60s

GBP/JPY registers a 0.50% gain, moving from 179.56 to a close of 180.92, with a cautious uptick to 181.05.
An imminent test of the Ichimoku Cloud bottom at 181.61 could dictate the next directional move towards 181.90 or below 178.03.
Short-term view leans neutral to slightly bullish, with key resistances set at 181.25, 181.37, and a notable 182.81.

Christian Borjon Valencia FXStreet

GBP/JPY halted its downtrend on Thursday and registered gains of more than 0.50% in a day that witnessed the pair traveling from around 179.56 towards its daily close of 180.92. At the time of writing, as Friday’s Asin session begins, the cross-currency pair exchanges hands at 181.05, reaching minuscule gains of 0.07%.

The daily chart portrays the pair as neutral to downward biased and about to test the bottom of the Ichimoku Cloud (Kumo) at around 181.61. If that area is breached, the GBP/JPY next stop would be the Kijun-Sen at 181.90 before climbing past 182.00. On the other hand, in the event of a bearish continuation, the pair’s first support would be the October 3 swing low of 178.03. Once cleared, the next support would be the July 28 cycle low at 176.30.

From a short-term perspective, the GBP/JPY is neutral to slightly upward as the pair remains above the Kumo. Additionally, both the Tenkan and Kijun-Sen are in a bullish order, while the Chikou Span is about to cross above the price action. Therefore, the cross-currency pair's first resistance would be the October 4 high at 181.25, followed by the October 3 daily high at 181.37 and the October 2 swing high at 182.81.

GBP/JPY Price Action – Hourly chart

GBP/JPY Technical Levels

GBP/JPY

Overview
Today last price	181.06
Today Daily Change	0.09
Today Daily Change %	0.05
Today daily open	180.97

Trends
Daily SMA20	182.43
Daily SMA50	183.28
Daily SMA100	180.97
Daily SMA200	172.04

Levels
Previous Daily High	181.26
Previous Daily Low	179.57
Previous Weekly High	183.03
Previous Weekly Low	180.89
Previous Monthly High	185.78
Previous Monthly Low	180.82
Daily Fibonacci 38.2%	180.61
Daily Fibonacci 61.8%	180.21
Daily Pivot Point S1	179.94
Daily Pivot Point S2	178.91
Daily Pivot Point S3	178.25
Daily Pivot Point R1	181.63
Daily Pivot Point R2	182.29
Daily Pivot Point R3	183.32

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

AUD/USD edges higher as hot CPI inflation and hawkish RBA lift rate hike bets

The AUD/USD pair gathers strength to near 0.7035 during the Asian trading hours on Friday. The Australian Dollar edges higher against the US Dollar as hotter Australian CPI inflation data has bolstered expectations of Reserve Bank of Australia rate hikes.

USD/JPY meets support near 157.00

USD/JPY retreats for the third consecutive day on Friday, revisiting the 157.00 region before attempting some recovery as investors continue to assess the latest BoJ meeting, where the central bank left rates unchanged, as widely anticipated.

Gold sinks to fresh yearly lows despite risk-off mood as Fed rate hike bets weigh

Gold slips to fresh year-to-date lows on Friday. The metal struggles despite a risk-off mood across markets, as expectations of further Federal Reserve (Fed) interest rate hikes continue to dominate price action, leaving Gold on track to end the month in negative territory.

Ripple Price Forecast: XRP bulls defend $1.20 as sell-side pressure triggers liquidations

Ripple (XRP) trades around $1.25 on Friday, rising from a short-term support level established at $1.20. This minor upward correction follows a sharp sell-off, triggered amid reports of a hack attack on the Binance exchange that impacted approximately $6.3 billion. The attack drove the broader crypto market on edge, as Binance suspended both deposits and withdrawals to contain the situation.

BoJ recap: A pause for now... but Japan has entered a new inflation phase

The Bank of Japan left its short-term policy rate unchanged at 1.25% but delivered a distinctly hawkish message on the risk of an inflation overshoot. The decision passed by 8-1, with board member Takata dissenting in favour of an increase to 1.5%, while Governor Kazuo Ueda stressed that the Bank would continue adjusting policy as needed.

The 2% inflation target came from a throwaway remark. It now moves trillions

The Federal Reserve's 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.