GBP/JPY Extends Short-Term Downtrend as Selling Pressure Intensi
The Japanese yen continues to strengthen against the British pound, benefiting from its safe-haven appeal as trade tensions escalate. Increasing speculation over potential US trade tariffs on the UK and the European Union has heightened uncertainty, prompting investors to seek refuge in low-yielding, risk-averse assets such as the yen.
Technical Analysis
On the 1-hour chart, GBP/JPY remains firmly within a short-term downtrend, with sellers maintaining control as the pair approaches critical support at 190.601, the last recorded swing low.
A clear break below this level would reinforce the bearish outlook, opening the door for further downside targets at 190.337, 190.002, and 189.632. Technical indicators confirm the increasing selling pressure:
Bollinger Bands are trending downward, signaling strong bearish momentum.
RSI is in the oversold region, reflecting persistent selling pressure.
MACD remains firmly in negative territory, suggesting that downside momentum is accelerating.
The 100-period moving average is diverging lower, reinforcing the prevailing downtrend.
However, if buyers regain control, they must reclaim the 191.570 resistance level to challenge the upper boundary of the bearish structure. A break above this level would invalidate the current bearish scenario, potentially signaling a shift in momentum.
Technical Analysis
On the 1-hour chart, GBP/JPY remains firmly within a short-term downtrend, with sellers maintaining control as the pair approaches critical support at 190.601, the last recorded swing low.
A clear break below this level would reinforce the bearish outlook, opening the door for further downside targets at 190.337, 190.002, and 189.632. Technical indicators confirm the increasing selling pressure:
Bollinger Bands are trending downward, signaling strong bearish momentum.
RSI is in the oversold region, reflecting persistent selling pressure.
MACD remains firmly in negative territory, suggesting that downside momentum is accelerating.
The 100-period moving average is diverging lower, reinforcing the prevailing downtrend.
However, if buyers regain control, they must reclaim the 191.570 resistance level to challenge the upper boundary of the bearish structure. A break above this level would invalidate the current bearish scenario, potentially signaling a shift in momentum.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.