GBP/JPY Price Analysis: Advances to 184.00 as market sentiment improves

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The GBP/JPY pair falls back after the S&P Global reported a nominal improvement in the United Kingdom’s Manufacturing PMI for September. The economic

data landed at 44.3, marginally higher than expectations and the former release of 44.2. The Manufacturing PMI remains below the 50.0 threshold for the 14th time in a row as firms continue to operate at lower capacity due to a deteriorating demand environment.

The Relative Strength Index aims to shift into the bullish range of 60.00-80.00. If the RSI manages to do so, a bullish impulse will get triggered. On the flip side, a breakdown below September 21 low at 180.82 would drag the asset further toward July 20 low at 179.74 and July 26 low at 176.32.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.

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