GBP/JPY consolidates above the 211.00 figure yet remains unable to crack key resistance at the 211.50 psychological level due to an improvement in risk appetite, along with the 50-day Simple Moving Average (SMA) at 211.26 acting as a magnet. Fears that Japanese authorities might intervene in the FX market.
GBP/JPY Price Forecast: Technical Outlook
The technical picture shows the GBP/JPY is set to remain sideways unless bulls surpass the 211.50 psychological figure, seen as key resis