Forex Market Analysis: GBP/JPY, EUR/JPY, and USD/JPY Technical Outlook

Technical analysis reports provide varying outlooks for major currency pairs. For GBP/JPY, recent 1-hour charts show a mix of trends, including periods of upward movement with support levels identified at 210.00 and 207.50, and periods of sideways movement with support at 187.40.

In the EUR/JPY market, the intraday bias has turned neutral following a recovery. Analysts are monitoring the 175.26/41 zone for potential support; a break below this level could signal a larger bearish reversal toward 167.43. Conversely, a break above the 177.95 resistance may indicate a short-term bottoming and a shift back to the upside.

Regarding USD/JPY, the 4-hour chart indicates the pair is approaching a fresh supply zone characterized by a Drop–Base–Drop (DBD) structure. This zone is significant due to the decisive departure from the base during the previous decline. Potential market reactions include bearish rejection, bullish penetration, or consolidation as buying and selling pressures interact.