GBP/JPY Price Analysis: Hovers nearby weekly highs as bulls loose steam

Despite a brief touch at 183.01, the GBP/JPY remains anchored below the 183.00 psychological resistance.
Key resistance lies at last week’s high of 183.24, and surpassing this could put YTD high of 184.01 into focus.
Support levels to watch include the August 9 low at 182.36, Tenkan-Sen at 181.82, and an established support trendline from April's lows around 180.80/95.

Christian Borjon Valencia FXStreet

GBP/JPY consolidates around the weekly highs of 182.70s and prints a small candlestick, suggesting the uptrend is losing steam, despite reaching a fresh weekly high of 183.01. However, as the Asian session began, the GBP/JPY exchanged hands at 182.69, well below 183.00, after the Tenkan-Sen crossed above the Kijun-Sen level.

GBP/JPY Price Analysis: Technical outlook

From a technical perspective, the GBP/JPY remains neutral to upward bias but must reclaim the last week’s high of 183.24 to threaten the year-to-date (YTD) high of 184.01. Even though the bullish cross of the Tenkan-Sen above the Kijun-Sen portrays the GBP/JPY as bullish, further confirmation is expected.

Otherwise, if GBP/JPY dives below the August 9 low of 182.36, it would exacerbate a pullback towards the top of the Ichimoku Cloud (Kumo). The GBP/JPY’s first support would be the Tenkan-Sen at 181.82, followed by a support trendline drawn from the lows of April, at 180.80/95, before slumping towards the Kijun-Sen at 180.15, inside the Kumo.

GBP/JPY Price Action – Daily chart

GBP/JPY

Overview
Today last price	182.71
Today Daily Change	-0.07
Today Daily Change %	-0.04
Today daily open	182.78

Trends
Daily SMA20	181.4
Daily SMA50	180.28
Daily SMA100	174
Daily SMA200	168.36

Levels
Previous Daily High	182.96
Previous Daily Low	181.39
Previous Weekly High	183.25
Previous Weekly Low	180.46
Previous Monthly High	184.02
Previous Monthly Low	176.32
Daily Fibonacci 38.2%	182.36
Daily Fibonacci 61.8%	181.99
Daily Pivot Point S1	181.79
Daily Pivot Point S2	180.81
Daily Pivot Point S3	180.22
Daily Pivot Point R1	183.37
Daily Pivot Point R2	183.95
Daily Pivot Point R3	184.94

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD drifts lower heading into NFP range

GBP/USD edged lower by 0.2% on Thursday, settling close to 1.3350 in a strained trading session that kept the pair pinned near three-month lows. Price briefly recovered earlier in the day on reports that Iran had indirectly signaled openness to talks with the CIA, but the bounce faded as Israeli officials reportedly advised Washington to disregard the overture.

Gold recovers above $5,100 ahead of US NFP report

Gold price jumps back above $5,100 in the Asian session on Friday. The precious metal regains traction, helped by a fresh bout of US Dollar selling and persisting risk-off flows. The US employment report for February will take center stage later on Friday.

Ethereum pull in $169M as validators pile in to stake ETH

US spot Ethereum exchange-traded funds recorded $169 million in net inflows on Wednesday, marking the largest daily intake in two months, according to SoSoValue data. The rise in inflows signals renewed institutional interest in Ethereum amid broader market volatility.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.