Is GBP/JPY’s Next Move a Stealth Crash to 214.00? Traders Brace for the Unseen Twist After SMA Break!

Is GBP/JPY’s Next Move a Stealth Crash to 214.00? Traders Brace for the Unseen Twist After SMA Break!

Ever noticed how currencies can have mood swings faster than a rollercoaster on double espresso? Well, the Pound Sterling just took a nosedive against the Japanese Yen, and not for the faint-hearted. With whispers swirling about a possible intervention in the forex arena, the Yen decided to flex its muscles against most G8 currencies, pushing GBP/JPY down by over 1.10% to 214.08. It’s like watching a heavyweight champ suddenly lose his footing—got me wondering, is this the calm before a storm or just a fleeting wobble? The technical picture is flashing bearish signals, with the GBP/JPY dipping below key moving averages and sellers reclaiming the ring. Are we gearing up for a deeper dive or setting the stage for a rebound? Strap in, because this currency clash is heating up—with potential support and resistance levels marking the battlefield. Ready to decode the charts and spy on the sellers and buyers jockeying for position? LEARN MORE.

The Pound Sterling collapses versus the Japanese Yen as growing “speculation” of an intervention in the FX markets witnessed the Yen appreciating versus most G8 FX currencies. The GBP/JPY trades with losses of more than 1.10%, at 214.08.

GBP/JPY Price Forecast: Technical Outlook

The cross-pair dipped below the 100-day Simple Moving Average (SMA) at 215.08, opening the door to further downside and putting the 214.00 milestone in play. Momentum shifted strongly bearish, as indicated by the Relative Strength Index (RSI). Hence, the path of least resistance is tilted to the downside, with sellers regaining control.

The GBP/JPY first support is 214.00. A breach of the latter will expose the 200-day SMA as the next support at 213.02. On further weakness, the August 3 cycle low of 209.58 would be the next area of interest, before sellers test yearly lows near 207.24.

On the other hand, if buyers drive the GBP/JPY exchange rate above the 100-day SMA, this could trigger some consolidation between the 215.08-216.04 area, with the latter being the 50-day SMA.

GBP/JPY Price Chart – Daily

GBP/JPY daily chart

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 New Zealand Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.05% 0.24% -0.87% -0.37% -0.32% 0.74% 0.16%
EUR -0.05% 0.18% -0.92% -0.43% -0.37% 0.66% 0.11%
GBP -0.24% -0.18% -1.09% -0.59% -0.56% 0.46% -0.08%
JPY 0.87% 0.92% 1.09% 0.48% 0.55% 1.58% 1.03%
CAD 0.37% 0.43% 0.59% -0.48% 0.06% 1.09% 0.55%
AUD 0.32% 0.37% 0.56% -0.55% -0.06% 1.03% 0.50%
NZD -0.74% -0.66% -0.46% -1.58% -1.09% -1.03% -0.53%
CHF -0.16% -0.11% 0.08% -1.03% -0.55% -0.50% 0.53%

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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