GBP/JPY is trading near its highs; will it continue to climb?
27.04.2026
- Japan's Leading Economic Index
- Dallas Fed Manufacturing Activity Index
Last weekend, the U.S. dollar traded weakly during U.S. trading hours, falling against the euro. The EUR/USD pair rose from 1.1673 to 1.1722, forming an uptrend along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair rebounded after finding support at the 200-period exponential moving average (EMA). On the daily chart, it rebounded after touching the 200-period simple moving average (SMA), ending a three-day losing streak. An engulfing bullish candle formed.
Among European currencies, the pound rose against the yen.GBP/JPY rose from 214.858 to 215.776. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price extended to the +3σ level of the Bollinger Bands, and on the daily chart, it recovered to this month’s high range. The 10-period MA acted as a support level, triggering a price rebound. On the weekly chart, the pair has risen for three consecutive weeks and reached the +2σ level of the Bollinger Bands.
Today’s economic indicators include the Japanese Leading Economic Index at 14:00, the German GfK Consumer Confidence Survey at 15:00, the UK CBI Retail Trade Survey at 19:00, the US Dallas Fed Manufacturing Activity Index at 23:30, and US 2-year and 5-year Treasury auctions at 26:00. No other major economic indicators or key speeches are scheduled.We will be watching for upside potential in the GBP/JPY pair at the start of the week following its recent rise.
Author: Keisuke Sakurai
