GBP/JPY Price Forecast: Bullish harami tests 213.00 resistance

GBP/JPY forms potential bullish harami, signaling renewed upside interest.
Rising RSI supports recovery, but 212.92-213.02 SMA confluence limits gains.
Break above 213.02 exposes 216.62 and psychological resistance at 217.00.

The GBP/JPY trades choppily despite posting gains of 0.17% on Wednesday, with price action remaining within Tuesday’s daily range of 211.44-212.65, indicating that a potential ‘bullish harami’ or inside day pattern is forming near a key resistance area.

GBP/JPY Price Forecast: Technical outlook

Of note, the GBP/JPY bounced after testing a key support trendline near 211.33 on Monday, opening the door for a recovery. However, buyers remain reluctant to open fresh bets as key resistance emerged at the confluence of the 100- and 200-day Simple Moving Averages (SMAs) at 212.92 and 213.02, respectively. If GBP/JPY clears the latter, the next stop is the September 2 high of 216.62, ahead of buyers testing the 217.00 mark,

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On the downside, the first support for GBP/JPY is the Monday low of the day (LOD) of 211.33, followed by the psychological 211.00 level. The next stop is the 50-day SMA at 210.00.

From a momentum standpoint, further upside is see as the Relative Strength Index (RSI) is bullish, and aiming upwards.

GBP/JPY Price Chart – Daily

Japanese Yen Price Today

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Swiss Franc.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.63%	0.50%	0.67%	0.41%	0.22%	0.67%	0.92%
EUR	-0.63%		-0.12%	0.05%	-0.22%	-0.40%	0.05%	0.29%
GBP	-0.50%	0.12%		0.17%	-0.09%	-0.28%	0.17%	0.42%
JPY	-0.67%	-0.05%	-0.17%		-0.26%	-0.44%	0.02%	0.25%
CAD	-0.41%	0.22%	0.09%	0.26%		-0.18%	0.27%	0.51%
AUD	-0.22%	0.40%	0.28%	0.44%	0.18%		0.45%	0.70%
NZD	-0.67%	-0.05%	-0.17%	-0.02%	-0.27%	-0.45%		0.22%
CHF	-0.92%	-0.29%	-0.42%	-0.25%	-0.51%	-0.70%	-0.22%

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 Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

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