Japanese Yen Outlook: USD/JPY, GBP/JPY, AUD/JPY Setups
By Matt Simpson | Published on Wed, 30 Sept 2026
Overview
The article discusses the current technical outlook for three major currency pairs involving the Japanese Yen: USD/JPY, GBP/JPY, and AUD/JPY. It highlights mixed signals across these pairs, with USD/JPY and GBP/JPY showing signs of stabilization after recent declines, while AUD/JPY appears more vulnerable.
USD/JPY Technical Analysis
The USD/JPY pair has shown a bearish engulfing pattern, indicating a potential near-term top. However, recent price action suggests that the pair could recover some of its losses. Key resistance levels are identified at the 200-day and 50-day EMAs, with support levels at 156 and the May low of 155.03. A break below these levels could lead to further declines.
GBP/JPY Technical Analysis
For GBP/JPY, a bullish outside day has formed, suggesting a potential swing low. This pattern coincides with previous lows from February and September, providing additional support. The pair has stalled just below the weekly pivot point, indicating a possible pullback. Key support is at 206.85, while upside targets include the April low at 209.64 and the 210 handle.
AUD/JPY Technical Analysis
The AUD/JPY pair is not showing signs of an imminent swing low and is on track for a second consecutive weekly decline. It has found temporary support at the 50-week EMA, but bearish momentum suggests a potential break of the March low. The article advises caution, with a focus on downside targets at 108 and 107 if the March low is breached.