GBP/JPY consolidates around 218.20 amid new PM
The GBP/JPY cross-pair is trading near year-to-date highs, with the Pound Sterling losing momentum amid the new PM taking office.
Fears of a possible intervention by Japanese authorities have capped the advance.
The Relative Strength Index shows bullish momentum, though it has turned flat, suggesting the cross could trade sideways.
For a bullish continuation, GBP/JPY needs to surpass the 218.50 psychological level before 219.00.