GBPJPY gained after steady UK GDP data. Intraday trend remains bullish as long as support 202 holds. Trading around 203.23 right now, the pair reached an intraday high of 203.43.
Driven by a 0.4% rise in August 2025, the UK's GDP increased by a meager 0.1%, matching market estimates and reversing July's modified 0.1% decline. Rise in production output, especially in manufacturing (up 0.7%), notwithstanding a 2.3% decrease in mining and quarrying. For the second month, services were unchanged; gains in administrative services (up 1.0%) counter a 0.5% decrease in wholesale and retail trade, whereas A 1.5% decrease in repairs resulted in a 0.3% drop in construction. Led by services (up 0.4%), the three-month growth rate rose to 0.3%, therefore providing guarded hope for Chancellor Rachel Reeves' November 26 budget, even if the Bank of England's raised Q3 prediction of 0.4% and the IMF's 1.3% yearly growth projection emphasize ongoing problems from inflation and sluggish momentum.
Oscillators and moving averages to forecast the trend of GBPJPY
CMP- 203.23
EMA (4-hour chart)
55-EMA- 202.22
200-EMA- 200.69
365-EMA- 199.68. The pair trades above the short and above long-term moving average.
Major Support- 202.60. Any breach below will drag the pair down to 202/201.55/201/200.
Major resistance - 203.60. Any break above confirms minor bullishness; a jump to 204.20/205/205.35/206 is possible.
Indicator (4-hour chart)
CCI (50)- Bearish
Average directional movement Index- Neutral. All indicators confirm a bearish trend.
It is good to buy on dips around 203 with SL around 201.98 for TP of 205/205.30.
