GBP/JPY Price Forecast: Clears 50-day SMA, yet flatlines below 214.00
The GBP/JPY hovers around 213.50 on Wednesday, finishing the session barely unchanged, up a mediocre 0.04% as the Yen weakened against most G10 FX currencies.
Given the GBP/JPY's inability to break above 214.00 and the recent Yen weakness, prices are likely to remain under pressure, potentially moving lower in the short term. A continued struggle to gain momentum may lead to further consolidation around the current levels.
The GBP/JPY hovers around 213.50 on Wednesday, finishing the session barely unchanged, up a mediocre 0.04% as the Yen weakened against most G10 FX currencies.
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