GBP/JPY Daily Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
GBP/JPY remains in a broader uptrend on the daily timeframe, trading within a well-defined ascending channel that has been respected since February. However, short-term momentum has weakened as price is currently below the 20-day SMA around 214.32 and struggling to hold above 214.00. Immediate support lies at 213.00, followed by 212.00 and the channel support near 210.75 to 211.00, while resistance is located at 214.50 and then the major swing high zone around 216.00 to 216.20.



Conversely, a decisive daily close below 213.00 would increase bearish pressure and could trigger a move toward 212.00 and 211.00. Overall, the bias is neutral to slightly bearish in the short term but remains bullish in the medium term unless the ascending channel is broken to the

Key Points:
  • Long-term trend: Bullish
  • Short-term momentum: Bearish (price below 20 SMA)
  • Key resistance: 214.50, then 216.00 to 216.20
  • Key support: 213.00, then 212.00, 210.75 to 211.00
  • Bullish trigger: Daily close above 214.50, stronger confirmation above 216.20
  • Bearish trigger: Daily close below 213.00
  • Upside targets: 216.20 > 218.50 > 220.00
  • Downside targets: 212.00 > 211.00 > 209.75
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