GBPJPY Chart Technical Outlook

GBPJPY Chart Technical Outlook continues to clatter along a near-term technical ceiling just south of the 189.00 handle, finding room near 188.80 before pulling back into the 188.50 region ahead of Friday’s closing bell. The pair rose cleanly through the 200-hour Simple Moving Average (SMA) near the 187.00 handle early in the week, and intraday momentum remains in the hands of bidders despite signs of congestion.

189.00 remains a key but tricky level for the GBP/JPY to overcome, with prices capped below the target level and keeping the Guppy constrained below the major 190.00 handle. The pair continues to trade into firmly bullish territory with the 200-day SMA near 182.11, far below the current price action. Guppy bids have not touched the long-term SMA since a decline to 179.00 at the start of 2024.

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