Below 212.00: GBP/JPY Price Forecast as Doji challenges bullish conviction

211.77 remains GBP/JPY’s consolidation area. A doji points to increasing indecision among buyers.
Resistance at 212.00 caps the upside, although bullish RSI momentum underpins the recovery.
Above 212.00, a breakout brings the 200-day SMA at 212.98 and 213.43 into focus.

211.77 is where GBP/JPY is holding on Wednesday. Neither side has established direction after the pair broke through the 50-day Simple Moving Average (SMA) at 211.34 near the close of the 20 October session.

212.00 Resistance in Focus: GBP/JPY Technical Forecast

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Despite six days of gains in GBP/JPY, a ‘doji’ formation points to a fragile uptrend. Important resistance levels lie above 212.00.

Bullish momentum is evident in the Relative Strength Index (RSI), but price action suggests buyers remain reluctant to push the pair beyond the 212.00 threshold.

Should that level give way, resistance would next come at the 200-day SMA of 212.98, ahead of the 100-day SMA at 213.43. Further gains would put 214.00 in view.

For the bearish scenario to develop, GBP/JPY would need to fall beneath the 50-day SMA, potentially bringing 211.00 into play. Losing that level would open the way to 210.00, then the 8 October swing low at 208.20 and the 30 September cycle low at 206.89.

GBP/JPY Daily Price Chart

Japanese Yen: Today’s Currency Performance

Against the Euro, the Japanese Yen recorded its strongest performance today. The table below sets out the Japanese Yen’s (JPY) percentage moves against the major currencies listed.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.00%	-0.07%	-0.06%	-0.08%	-0.39%	-0.10%	-0.04%
EUR	0.00%		-0.14%	-0.07%	-0.12%	-0.32%	-0.14%	-0.08%
GBP	0.07%	0.14%		0.06%	0.00%	-0.19%	-0.01%	0.06%
JPY	0.06%	0.07%	-0.06%		-0.04%	-0.24%	-0.07%	0.00%
CAD	0.08%	0.12%	-0.01%	0.04%		-0.21%	-0.02%	0.04%
AUD	0.39%	0.32%	0.19%	0.24%	0.21%		0.19%	0.25%
NZD	0.10%	0.14%	0.00%	0.07%	0.02%	-0.19%		0.06%
CHF	0.04%	0.08%	-0.06%	-0.00%	-0.04%	-0.25%	-0.06%

Percentage movements between the major currencies are displayed in the heat map. Select the base currency in the left-hand column and the quote currency in the top row. To read JPY (base)/USD (quote), for example, start with the Japanese Yen on the left and follow its row horizontally to the US Dollar column. The intersecting cell gives the percentage change for that pair.