GBP/JPY Price Forecast: Stalls at 213.00 as bearish flag looms

GBP/JPY Price Forecast: Technical Outlook

The technical picture shows GBP/JPY trading within the 211.00-213.00 range over the last 9 days, range-bound amid the lack of a clear catalyst. Additionally, it remains within a bearish flag, which, if confirmed, could open the door for further downside.

Momentum, as measured by the Relative Strength Index (RSI), is bullish, but the slope is trending lower, indicating neither buyers nor sellers are in charge.

For a bullish continuation, the GBP/JPY must clear the top of the range at 213.00. Once surpassed, the next stop would be the year-to-date (YTD) high at 215.00.

Downwards, the first area of interest would be the 212.00 figure, right around the bottom trendline of the bearish flag. A breach of the latter will expose the 50-day Simple Moving Average (SMA) at 211.42, ahead of testing the March 16 swing low of 210.81.

GBP/JPY Price Chart – Daily

Australian Dollar Price This week

The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies this week. Australian Dollar was the strongest against the New Zealand Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.01%	-0.19%	0.19%	0.95%	1.55%	0.96%	0.76%
EUR	0.01%		-0.15%	0.24%	0.97%	1.56%	0.99%	0.78%
GBP	0.19%	0.15%		0.34%	1.14%	1.73%	1.15%	0.88%
JPY	-0.19%	-0.24%	-0.34%		0.72%	1.34%	0.74%	0.46%
CAD	-0.95%	-0.97%	-1.14%	-0.72%		0.61%	0.02%	-0.20%
AUD	-1.55%	-1.56%	-1.73%	-1.34%	-0.61%		-0.58%	-0.85%
NZD	-0.96%	-0.99%	-1.15%	-0.74%	-0.02%	0.58%		-0.27%
CHF	-0.76%	-0.78%	-0.88%	-0.46%	0.20%	0.85%	0.27%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).