GBP/JPY Price Prediction: Pulling back in established short-term downtrend
Source Fxstreet
- GBP/JPY is correcting within a new downtrend.
- The correction is likely to eventually end and the downtrend to resume, pushing prices to new lows.
GBP/JPY has been falling since it rolled over at the September 2 high. It has now probably begun a new short-term downtrend, reversing the previous August uptrend.
Most recently it bottomed out on September 6 and pulled back. It now seems to be falling again, perhaps resuming its dominant downtrend.
GBP/JPY 4-hour Chart
In technical analysis theory the odds favor an extension of the established downtrend, which suggests further weakness as the short-term trend unfolds.
A break below 186.51 (September 6 low) will confirm further downside towards the next target at 184.51 (August 8 swing low) followed by 182.82 (August 6 swing low). The ultimate downside target is the August 5 low at 180.06.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold Price Forecast: XAU/USD edges lower below $4,200 amid worries about hawkish Fed rate cutGold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Michael Saylor and Strategy are heavily investing in Bitcoin, adding 10,624 more BTC to their already significant holdings, despite a tough year for their stock.
Silver (XAG/USD) enters a bullish consolidation phase during the Asian session and oscillates in a narrow range near the all-time peak, around the $61.00 neighborhood, touched this Wednesday.
Solana (SOL) targets a breakout above $145 as four days of ETF inflows, rising futures open interest, and growing on-chain liquidity signal a return of bullish momentum.
Gold Price Forecast: XAU/USD drifts higher above $4,200 as Fed delivers expected cutGold price (XAU/USD) gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve (Fed) delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026.
Gold price (XAU/USD) gains momentum to around $4,235 during the early Asian session on Thursday. The precious metal extends its upside after the US Federal Reserve (Fed) delivered an expected third consecutive interest rate cut and maintained its outlook for just one cut in 2026.
