GBP/JPY Price Forecast: Bears press 209.00 as downtrend deepens
- GBP/JPY extends two-day decline as sellers challenge 209.00 support.
- Bearish RSI points lower, reinforcing pressure on recent lows.
- Break below 209.00 exposes 208.00, 207.87 and 207.10 next.
The GBP/JPY pair extends its losses on Wednesday to two straight trading sessions, down over 0.17% and trading near the week's lows, with 209.40 seen as the first support level before sellers push prices lower.
GBP/JPY Price Forecast: Technical Outlook
The overall trend is downwards, with GBP/JPY set to challenge 209.00. A decisive breakout would expose the 208.00 figure ahead of the September 17 swing low of 207.87. Beneath lies the September 8 swing low of 207.10, ahead of 207.00.
Worth noting that momentum favors the scenario mentioned above. The Relative Strength Index (RSI) is bearish, aiming downwards.
On the flip side, if GBP/JPY rises past 210.00, it opens the door to test the September 18 high at 211.28, with the next area of interest being the 200-day Simple Moving Average (SMA) at 213.13.
GBP/JPY Price Chart – Daily
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.58% | 0.76% | 0.55% | 0.28% | 1.06% | 0.86% | 0.46% | |
| EUR | -0.58% | 0.16% | -0.02% | -0.29% | 0.48% | 0.31% | -0.09% | |
| GBP | -0.76% | -0.16% | -0.17% | -0.45% | 0.30% | 0.15% | -0.20% | |
| JPY | -0.55% | 0.02% | 0.17% | -0.29% | 0.46% | 0.30% | -0.03% | |
| CAD | -0.28% | 0.29% | 0.45% | 0.29% | 0.77% | 0.59% | 0.25% | |
| AUD | -1.06% | -0.48% | -0.30% | -0.46% | -0.77% | -0.15% | -0.51% | |
| NZD | -0.86% | -0.31% | -0.15% | -0.30% | -0.59% | 0.15% | -0.37% | |
| CHF | -0.46% | 0.09% | 0.20% | 0.03% | -0.25% | 0.51% | 0.37% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
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.
