GBP/JPY seeing some topside action, hurdles over 183.00

The GBP/JPY caught a bounce on Monday as investors go risk-on.
Tuesday sees UK labor and PMI data.
Japan has a Tokyo CPI advance inflation reading to close out the week.

Joshua Gibson FXStreet

The GBP/JPY has reclaimed the 183.00 handle in Monday trading as broad-market risk flows turn risk-on, taking safe havens like the Japanese Yen (JPY) down and bolstering the relatively riskier Pound Sterling (GBP) into fresh highs.

The Guppy is trading into its highest bids in over a week, landing just north of the 183.00 handle at 183.28 before a relief pullback drags the pair back down.

The GBP will need all the help it can get this week: with a sedate Monday on the cards, Tuesday is set to kick things off with a bang.

On the docket this week: UK labor, UK PMIs, Tokyo CPI

Early Tuesday at 06:00 GMT sees UK Claimant Count Change and Employment Change numbers; markets expect the UK to see an uptick in people seeking jobless benefits to increase from 0.9K to 2.3K, while the number of employed people is expected to decline 198K, an improvement over the previous reading of -207K, but still in negative territory.

UK Purchasing Manager Index (PMI) figures are also on the docket for Tuesday at 08:30 GMT; both services and manufacturing components are expected to improve slightly, with the composite PMI for October expected to rise from 48.5 to 48.8.

On the Yen side, Japan's next round of inflation figures are due late Thursday at 23:30 GMT. The Core Tokyo Consumer Price Index (CPI) last showed an annualized 2.5% increase, and markets are forecasting that the CPI (minus volatile fresh food prices) will hold steady at that number, printing 2.5% for the year into October.

GBP/JPY Technical Outlook

The GBP/JPY is getting dragged back into the 50-day Simple Moving Average (SMA) on daily candlesticks as Monday's six-day high pins the Guppy into medium-term averages.

The next topside level to beat will be the last swing high 183.82 before bidders can re-challenge multi-year highs set back in August beyond the 186.00 handle.

The floor is priced in at the very low end of early October's unexpected plunge into 178.00, and the long-term outlook has the GBP/JPY firmly buried in the high end with the 200-day SMA leaning bullish, but far below current price action just beneath 174.00.

GBP/JPY Daily Chart

GBP/JPY Technical Levels

GBP/JPY

Overview
Today last price	183.04
Today Daily Change	0.75
Today Daily Change %	0.41
Today daily open	182.29

Trends
Daily SMA20	181.92
Daily SMA50	183.33
Daily SMA100	182.09
Daily SMA200	173.44

Levels
Previous Daily High	182.38
Previous Daily Low	181.3
Previous Weekly High	182.81
Previous Weekly Low	181.02
Previous Monthly High	185.78
Previous Monthly Low	180.82
Daily Fibonacci 38.2%	181.96
Daily Fibonacci 61.8%	181.71
Daily Pivot Point S1	181.6
Daily Pivot Point S2	180.91
Daily Pivot Point S3	180.53
Daily Pivot Point R1	182.68
Daily Pivot Point R2	183.06
Daily Pivot Point R3	183.75

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 eases from around 1.1800 after US GDP figures

The US Dollar is finding some near-term demand after the release of the US Q3 GDP. According to the report, the economy expanded at an annualized rate of 4.3% in the three months to September, well above the 3.3% forecast by market analysts.

GBP/USD retreats below 1.3500 on modest USD recovery

GBP/USD retreats from session highs and trades slightly below 1.3500 in the second half of the day on Tuesday. The US Dollar stages a rebound following the better-than-expected Q3 growth data, limiting the pair's upside ahead of the Christmas break.

Gold to challenge fresh record highs

Gold prices soared to $4,497 early on Monday, as persistent US Dollar weakness and thinned holiday trading exacerbated the bullish run. The bright metal eases following the release of an upbeat US Q3 GDP reading, as USD finds near-term demand in the American session.

Crypto Today: Bitcoin, Ethereum, XRP decline as risk-off sentiment escalates

Bitcoin remains under pressure, trading above the $87,000 support at the time of writing on Tuesday. Selling pressure has continued to weigh on the broader cryptocurrency market since Monday, triggering declines across altcoins, including Ethereum and Ripple.

Ten questions that matter going into 2026

2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.

Dogecoin ticks lower as low Open Interest, funding rate weigh on buyers

Dogecoin extends its decline as risk-off sentiment dominates across the crypto market. DOGE’s derivatives market remains weak amid suppressed futures Open Interest and perpetual funding rate.