The currency pair climbs over 0.3% as improved risk sentiment and a softer USD lift the pound against the yen.
The GBP/JPY pair advanced more than 0.3% to trade above 218.00, driven by a weaker US dollar following the Federal Reserve’s latest monetary policy decision. The cross now hovers near 218.50 after dipping to a daily low of 217.16 earlier.
Prior to the Fed’s announcement, the pair had fallen to a ten-day low, but momentum shifted as the GBP/USD pair rallied. The Relative Strength Index (RSI) signals further upside potential, though Japanese authorities’ potential FX intervention could limit gains.
Key resistance levels include 219.00 and 220.00, while support rests at 218.00 and the 50-day Simple Moving Average at 215.62.