forexeatrading 
- GBP/JPY holds beneath short-term downtrend line
- Robust resistances close to 50- and 200-day SMAs
- Stochastics ease decrease
GBP/JPY is tumbling close to the 189.00 spherical quantity, crossing beneath the medium-term ascending pattern line and the 20-day easy shifting common (SMA).
The pair is quickly approaching the close to five-month low of 187.05, and any declines beneath this stage might result in extra drops in the direction of the 183.70 assist stage. Beneath that, the 180.00 psychological mark, achieved from the low in August 2024, might halt additional bearish actions.
On the flip aspect, a break above the 191.30 stage, which is close to the 20-day SMA, and the uptrend line might ship traders till the 193.00 spherical quantity the place additionally the 50-day SMA lies. Even larger, a break above the 194.75 resistance and extra importantly above the 200-day SMA, which stands at 195.00 might change the outlook to a extra constructive one.
From a technical standpoint, the stochastic is heading south towards the oversold territory, whereas the MACD is boosting its unfavourable momentum beneath the zero stage.
To conclude, GBP/JPY has been in a bearish tendency because it peaked at 199.00 within the short-term view and any lows beneath 187.00 might endorse the present outlook.
