The GBP/JPY is showing an upward bias supported by a bullish yet trendless RSI, indicating stability in exchange rates. Key resistance levels are seen at the year-to-date high of 201.61 and the 202.00 mark. Important support levels include 201.00, Tenkan-Sen at 200.26, Senkou Span A at 199.71, and Kijun-Sen at 199.15.
On Thursday, the GBP/JPY had a minor increase of 0.06% and is currently trading flat at 201.11 as the Asian Pacific session begins on Friday.
According to the daily chart analysis, the GBP/JPY remains on an upward trend supported by a bullish RSI, despite lacking a clear trend. This suggests that the exchange rate may stay around its current levels due to a lack of significant catalysts and concerns about potential intervention by Japanese authorities.
In terms of resistance, the GBP/JPY faces barriers at the YTD high of 201.61 and the 202.00 level. On the downside, if the cross weakens, it could drop below 201.00 and test support levels at Tenkan-Sen (200.26), Senkou Span A (199.71), and Kijun-Sen (199.15).
The daily chart provides a visual representation of the GBP/JPY price action, showing the current trend and potential levels of support and resistance.