FX.co ★ GBP/JPY

The GBP/JPY pair has been trading within a consolidation zone following a strong bullish rally. After a sharp move from the 187.000 support level, the market has been coiling in a tight range just above the 191.000 mark. The consolidation within the Bollinger Bands indicates accumulation and a potential breakout. A breakout above the psychological resistance of 192.000 may confirm bullish continuation toward the target zone of 191.985 and beyond. The short-term trend remains bullish, supported by higher lows and steady price support at the 9-period Simple Moving Average (SMA). The market structure shows a clear uptrend since the price rebounded strongly from the 187.000 support level. The recent sideways movement is forming a bullish flag pattern, which often precedes upward breakouts in strong uptrends. upward arrow pointing toward 191.985 is technically valid and aligns well with market structure and indicator readings. The price action shows a sustained bullish bias supported by technical indicators and historical price behavior. The zone around 192.000 is a key psychological level; if broken, it could trigger further buying interest and momentum-driven rallies. Moreover, the recent tight consolidation after an uptrend (often called a bullish continuation pattern) implies that buyers are preparing for another leg higher. The support at 191.000 and the midline of the Bollinger Bands have been respected, indicating strong buyer control. In conclusion, GBP/JPY is showing signs of a bullish continuation with a potential breakout toward the 191.985 level. As long as the price remains above the 9 SMA and the lower Bollinger Band, the bullish outlook remains valid. Traders may look for confirmation through a strong bullish candle close above the recent consolidation highs near 191.50. A break above 192.000 could accelerate the move upward, while support remains firm near 191.000 and ultimately 190.798. The Bollinger Bands show the price is near the upper band, indicating strong buying pressure and a possible breakout. The 9-period Moving Average (SMA) is acting as dynamic support, helping confirm the current uptrend. The MACD shows bullish momentum with the MACD line above the signal line, though currently flattening — suggesting a possible move is building up. Lastly, the CRSI is near the oversold level around 21, which hints that the price may bounce up soon as buyers re-enter the market.