GBP/JPY saw a rise of over 0.50% on Monday, driven by a decrease in safe-haven currencies. This marks the sixth consecutive day of gains for the Pound Sterling against the Japanese Yen, as investors showed a preference for riskier assets. The currency pair is currently trading at 196.16.
Technical analysis suggests that the uptrend is likely to continue, with key resistance levels at 197.92 and above 200.00. The Relative Strength Index (RSI) indicates a bullish trend, with momentum favoring further upside movement.
If GBP/JPY surpasses the 197.00 mark, it could face resistance at 197.92 and potentially reach the year-to-date high at 200.59. On the other hand, a drop below 196.00 could lead to a test of support levels at 195.26, 194.54, and 194.24.
Overall, the outlook for GBP/JPY remains positive, with the potential for continued gains in the near future.