GBP/JPY is trading near its highs; will it continue to climb?

GBP/JPY is trading near its highs; will it continue to climb?

27.04.2026 New

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. A bullish engulfing 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 Japan Leading Economic Index at 2:00 PM, the German GfK Consumer Confidence Survey at 3:00 PM, the UK CBI Retail Trade Survey at 7:00 PM, the U.S. Dallas Fed Manufacturing Activity Index at 11:30 PM, and U.S. 2-year and 5-year Treasury auctions at 2:00 AM. 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.

Past Market Reports

1. 27.04.2026New

   GBP/JPY is trading near its highs; will it continue to climb?

2. 24.04.2026New

   USD/CHF: Focus on Upside Potential After Breaking Above Key Level

3. 23.04.2026New

   The euro has broken below a key support level; tonight’s preliminary PMI figures may reveal the extent of the decline

4. 22.04.2026New

   The euro faces resistance at higher levels; the market may be waiting to see if there is room for a rebound

5. 21.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

6. 20.04.2026

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

7. 17.04.2026

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

8. 16.04.2026

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

9. 15.04.2026

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

10. 14.04.2026

    Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?