- Analytics
- News and Tools
- Market News
- GBP/JPY Price Analysis: Pound to drop further with a consolidation under 162.00
GBP/JPY Price Analysis: Pound to drop further with a consolidation under 162.00
- GBP/JPY is moving sideways in the short-term with a bearish bias.
- Daily close under 162.00 to open the doors to more losses.
- Key resistance is seen at 163.70 and 164.50.
The GBP/JPY is falling on Tuesday, trading around 162.50. It bottomed at 161.85 and quickly rose back above 162.00. The 162.00 area has become a critical level and a daily close below should open the doors for an extension of the decline, initially to 161.20 (100-day Simple Moving Average). Below, there is not much support until 160.00.
Technical indicators in the daily chart are biased to the downside. RSI and Momentum are pointing south, and the price is below the 20-day SMA. A recovery above 164.70 could change the short-term outlook.
While the pound resists above 162.00, the odds of more range trading between that level and 163.80. A daily close above the mentioned level should clear the way for 164.70. Above the next critical target is a downtrend line from June highs currently at 166.55.
GBP/JPY daily chart
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
