News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • Earnings will remain a key theme ahead with AMZN and AAPL due to follow GOOG's and MSFT's failure to push a Nasdaq 100 to record highs while the ECB will follow in the BOC's and Brazil hawkish policy mix. That said, I'm watching the Dollar most closely:
  • 🇯🇵 BoJ Interest Rate Decision Actual: -0.1% Expected: -0.1% Previous: -0.1%
  • Heads Up:🇯🇵 BoJ Quarterly Outlook Report due at 03:00 GMT (15min)
  • Heads Up:🇯🇵 BoJ Interest Rate Decision due at 03:00 GMT (15min) Expected: -0.1% Previous: -0.1%
  • US crude is down another 2.2 percent in early Asia trade. We are on pace to break below the 20-day moving average (and 20-day support) for the first time in 43 trading days. There those the default risk appetite run...
  • Futures have their own set of characteristics and appeal to different types of traders and investors for a variety of reasons. Get your free trading guide and learn to trade the markets with futures here. Download your guide today!
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.20% Silver: 0.08% Oil - US Crude: -2.11% View the performance of all markets via
  • The 2022 forecast for Fed Fund futures has surged to its highest on record (fully pricing in two 25bp rate hikes) and you can see it in the 2-10 Treasury yield spread this past session:
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.20% 🇨🇭CHF: 0.06% 🇪🇺EUR: 0.05% 🇬🇧GBP: -0.02% 🇨🇦CAD: -0.06% 🇦🇺AUD: -0.19% View the performance of all markets via
GBP/JPY Forecast: GBP vs JPY Price –  Bulls Struggle For Momentum

GBP/JPY Forecast: GBP vs JPY Price – Bulls Struggle For Momentum

Mahmoud Alkudsi, Analyst

GBP/JPY Price- Technical Outlook

  • All eyes on Bank of England’s meeting tomorrow
  • GBP vs JPY price chart exposes a weaker bullish sentiment

GBP/JPY- Bulls Pullback

On June 5, GBP/JPY rallied to an over three-month high at 139.74 however, the price retreated after as some bulls seemed to cut back. Last week, bulls eased up further causing the pair to close the weekly candlestick in the red with a 3.0% loss.

The Bank of England is expected to increase its quantitative easing program on Thursday’s meeting £150 billion yet, investors are interested to know more what the policymakers would say about the negative interest rates, knowing that any move in this direction is unlikely at the time being.

GBP/JPY Daily PRice CHART ( July 18, 2018 – June 17, 2020) Zoomed Out

GBPJPY daily price chart 17-06-20 zoomed out

GBP/JPY Daily PRice CHART (March 26 – June 17, 2020) Zoomed In

GBPJPY daily price chart 17-06-20 zoomed in

On Thursday, GBP/JPY declined to the current trading zone 133.30 – 135.81 since then, the price failed twice to move to the higher zone highlighting a weaker bullish momentum. On Monday, the price closed above the 50-day moving average signaling that bears were not ready to control the price action.

Thus, a close above the high end of the aforementioned trading zone indicates that bulls could push towards 137.83 then any further close above this level may encourage them to extend the rally towards the 141.00 handle.

In turn, any close below the low end of the zone may embolden bears to press towards 130.84 then any further close below this level could send GBPJPY even lower towards 128.84.

See the daily chart (zoomed in) to know more about the key levels to monitor in both scenarios.

GBP/JPY Four Hour PRice CHART (April 29 – June 17, 2020)

GBPJPY four hour price chart 17-06-20

This week, GBP/JPY corrected higher and rallied to 136.35 however, the price retreated later eyeing a test of the uptrend line originated from the May 29 low at 131.78. Hence, any violation of this line would generate a bearish signal while a break above the downtrend line originated from the June 10 high at 137.42 would generate a bullish signal.

A break below 132.91 could send GBPJPY towards 132.23 while a break above 136.63 may trigger a rally towards 137.37. Nonetheless, the daily and support and resistance underlined on the four-hour chart should be kept in focus.

Written By: Mahmoud Alkudsi,Market analyst

Please feel free to contact me on Twitter: @Malkudsi

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.