GBP/JPY Price Forecast: Bullish harami tests 213.00 resistance
The GBP/JPY trades choppily despite posting gains of 0.17% on Wednesday, with price action remaining within Tuesday’s daily range of 211.44-212.65, indicating that a potential ‘bullish harami’ or inside day pattern is forming near a key resistance area.
On Wednesday, the EUR/USD pair continues its downward trend, falling below the 1.1100 level, with the current rate at 1.1092, the lowest since May 2025. Technical analysis indicates that EUR/USD has breached a significant support level, and a daily close under 1.1100 may trigger additional declines. The Relative Strength Index (RSI) suggests that sellers hold the upper hand.
If EUR/USD remains under 1.1100, it could potentially decline towards the May 23, 2025, low of 1.1050. The next target is the psychological level of 1.1000, followed by the May 12, 2025, low of 1.0951. To the upside, the first resistance point is 1.1100, after which the pair may aim for the day's high of 1.1170, and subsequently, the 1.1200 level. Above 1.1273, there are further resistance levels at 1.1300.
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