The GBPJPY pair is showing clear signs of technical recovery after a strong downtrend. Recent fundamental developments are also supporting a short-term bullish outlook, mainly due to the weakening of the Japanese yen driven by political expectations and monetary policy stance in Japan.
1. Fundamental Outlook
The yen is under downward pressure as Sanae Takaichi, known for her pro-stimulus and dovish stance, is widely expected to become Japan’s next Prime Minister. In addition, BOJ Governor Ueda indicated that the central bank is not in a hurry to raise interest rates, which further reduces the appeal of holding JPY.
=>Impact: A weaker JPY, supporting an upside move in GBPJPY.
Meanwhile, in the UK, the British pound remains stable as recent fiscal reports show that the national budget remains under control, easing concerns about fiscal risk and giving GBP additional support.
2. Technical Perspective
On the 1-hour chart, GBPJPY continues to trade within a descending parallel channel, but the price has rebounded from the 201.5 support zone, which aligns with the lower boundary of the channel.
The EMA34 and EMA89 are narrowing, indicating that the bearish momentum is fading.
The price could recover toward the 203.0 area, which coincides with the upper boundary of the channel. If buying pressure strengthens and price breaks above this level, the bullish extension toward 204.2 – 205.0 would become a realistic scenario.
1. Fundamental Outlook
The yen is under downward pressure as Sanae Takaichi, known for her pro-stimulus and dovish stance, is widely expected to become Japan’s next Prime Minister. In addition, BOJ Governor Ueda indicated that the central bank is not in a hurry to raise interest rates, which further reduces the appeal of holding JPY.
=>Impact: A weaker JPY, supporting an upside move in GBPJPY.
Meanwhile, in the UK, the British pound remains stable as recent fiscal reports show that the national budget remains under control, easing concerns about fiscal risk and giving GBP additional support.
2. Technical Perspective
On the 1-hour chart, GBPJPY continues to trade within a descending parallel channel, but the price has rebounded from the 201.5 support zone, which aligns with the lower boundary of the channel.
The EMA34 and EMA89 are narrowing, indicating that the bearish momentum is fading.
The price could recover toward the 203.0 area, which coincides with the upper boundary of the channel. If buying pressure strengthens and price breaks above this level, the bullish extension toward 204.2 – 205.0 would become a realistic scenario.
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Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.