The pair gains despite mixed UK jobs data, with focus on resistance at 216.35 amid softer Japanese GDP growth.
The British Pound (GBP) rose against the Japanese Yen (JPY) for a third straight session, trading at 216.00 despite mixed UK employment figures. UK unemployment held at 4.9% in the three months to June, defying expectations of a dip to 4.8%, while wage inflation edged higher.
Earlier data showed employment growth slowing, though claimant numbers fell unexpectedly. The Yen remained under pressure after Japan’s Q2 GDP growth slowed, complicating the Bank of Japan’s tightening plans. GBP/JPY has rallied over 3% since August 2.
Technical indicators suggest bulls retain control, though the Relative Strength Index nears overbought levels. A break above 216.35 could target resistance near 217.16-217.53.