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>>GBP/JPY outlook: A vital bearish flag formation appears as the pound comes under growing pressure

GBP/JPY outlook: A vital bearish flag formation appears as the pound comes under growing pressure

crypthub

about 2 hours ago

Bearish Flag Emergence

The GBP/JPY pair has slid lower, forming a classic bearish flag on the daily chart. The pattern follows a sharp fall from a February high of 190.25 into a consolidation zone between 185.50 and 187.80. Traders view the flag as a pause before a possible continuation of the downtrend.

Technical Signals and Targets

A death‑cross has appeared as the 50‑day moving average dropped below the 200‑day line, while the RSI stays under 50, indicating sustained bearish momentum. Key resistance lies at 187.80; a break above would invalidate the flag. Support levels are 185.50 and 183.20 (61.8 % Fibonacci), with a measured move targeting around 180.50.

Fundamentals and Risk Outlook

Diverging policies—cautious BoE stance versus the BOJ’s gradual tightening—pressure sterling, reinforced by weak UK retail sales and solid Japanese inflation. Global risk‑off sentiment fuels yen safe‑haven flows, and institutional positioning shows growing short bias. Traders should size positions tightly, respect the 150‑pip ATR, and watch for policy or geopolitical shifts that could reverse the technical outlook.