Consolidation, Breakdown Pressure, and Recovery Trends

GBPJPY Analysis

GBP/JPY Stalls Below 189.10 – Consolidation After Sharp Drop

GBP/JPY consolidates between 187.20–189.10 after steep decline. RSI near 49 shows indecision. Breakout or breakdown may define next move.

GBP/JPY is consolidating following a steep decline from 193.500 to below 186.000 earlier in April. Price action is currently range-bound, supported by the green baseline of a trend indicator, suggesting market indecision. The RSI hovers around 49, reflecting lack of clear bullish momentum, and the pair is struggling to reclaim 189.100, now acting as key resistance. A breakdown below 187.200 could trigger renewed bearish pressure, while a breakout above 189.100 may indicate a short-term reversal.

BRENT Analysis

Brent Crude Tests $68.70 Resistance – Recovery at Risk

Brent crude recovers toward $68.70 resistance. RSI at 55 shows mild momentum. Failure to break may trigger a retest of $64.77–$65.66 demand zone.

Brent crude oil remains in a corrective recovery phase following a breakdown from its rising channel earlier in April. Price is now testing the lower boundary of the $68.000–$68.700 resistance zone, a key area that previously acted as support. The RSI stands at 55, suggesting mild bullish momentum without being overbought. A failure to break and hold above $68.704 could lead to another downward leg toward the $64.770–$65.668 demand zone. Bulls need a decisive breakout to confirm reversal strength.

GBPCAD Analysis

GBP/CAD Retests 1.8500 – Breakout or Rejection Ahead?

GBPCAD nears 1.8500 after V-shaped rally. RSI at 66.81 signals strong momentum. Watch for breakout toward 1.86 or pullback to 1.8386 support.

GBPCAD shows renewed strength after a V-shaped recovery from the 1.80500 support zone, now retesting the 1.85000 resistance, a prior rejection level. The RSI stands at 66.81, reflecting strong bullish momentum, though nearing overbought territory. A clear break above 1.85000 would confirm bullish continuation, potentially targeting 1.86000 next. However, if price faces rejection, a pullback toward 1.83868 or 1.83238 could follow.

USDJPY Analysis

USD/JPY Slides Toward 140 – Bear Trend Intensifies

USD/JPY trades near 140 after breaking key supports. RSI at 33.17 nears oversold but shows no reversal. Next level to watch: 138.000.

USD/JPY remains in a clear downtrend, forming consistent lower highs and lower lows. After breaking below key supports at 146.647, 144.472, and more recently 141.638, the pair now trades near 140.200. The RSI sits at 33.17, approaching oversold territory, but shows no divergence or reversal signals yet. If 140.000 fails, the next downside target is 138.000, unless a sharp shift in sentiment or policy intervention halts the decline.