GBP/JPY Price Analysis: Remains on the way up to 153.00

GBP/JPY stays mildly bid near intraday top, inside weekly rising channel.
Channel resistance, 200-SMA offers a tough nut to crack for the bulls.
Further gains envisioned on clear break of monthly descending trend line.

Anil Panchal FXStreet

GBP/JPY remains on the front foot around 152.50, up 0.08% intraday, amid Wednesday’s Asian session. The cross-currency pair picks up bids inside a one-week-old ascending trend channel formation amid firmer RSI.

Even so, a convergence of the stated channel’s resistance line and 200-DMA, around 153.00, will challenge the pair’s further upside. Also acting as a barrier to the additional rise will be the RSI line as it inches closer to the overbought region.

If at all the quote successfully cross the 153.00 threshold, the mud-July top surrounding 153.50 and the monthly high surrounding 154.10 will be in focus.

Alternatively, pullback moves may levitate around a descending trend line from June 23, close to 152.10, a break of which will highlight the 152.00 round figure and the stated channel’s support line near 151.80 for the GBP/JPY bears to watch.

Should the pair sellers manage to conquer the 151.80 support, a downward trend to the early July’s swing low near 150.65 can’t be ruled out.

GBP/JPY: Four-hour chart.

Trend: Further upside expected

Additional important levels

Overview
Today last price	152.45
Today Daily Change	0.04
Today Daily Change %	0.03%
Today daily open	152.41

Trends
Daily SMA20	152.26
Daily SMA50	153.62
Daily SMA100	152.57
Daily SMA200	146.99

Levels
Previous Daily High	152.62
Previous Daily Low	151.58
Previous Weekly High	152.16
Previous Weekly Low	148.46
Previous Monthly High	155.94
Previous Monthly Low	151.32
Daily Fibonacci 38.2%	151.98
Daily Fibonacci 61.8%	152.22
Daily Pivot Point S1	151.78
Daily Pivot Point S2	151.16
Daily Pivot Point S3	150.74
Daily Pivot Point R1	152.83
Daily Pivot Point R2	153.25
Daily Pivot Point R3	153.87

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.