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The GBP/JPY rallied to a five-week high of 204.53 on Monday, up by 0.33% as the Japanese Yen weakens on growing tensions between China and Japan.

GBP/JPY Price Forecast: Technical outlook
 

The GBP/JPY technical picture shows the pair is neutral-biased tilted to the upside, with key resistance levels found at 204.50. The Relative Strength Index (RSI) is bullish, though it shows that buyers are losing some momentum.

For a bullish continuation, buyers must clear the 204.50 area, ahead of the challenging 205.00. Once surpassed, the next stop would be the October 8 high at 205.32, followed by 206.00.

Conversely, if sellers push GBP/JPY below 204.00, the pair could challenge the 20-day SMA at 202.71. On further weakness, the next support is 202.00

GBP/JPY Price Chart – Daily
 

GBP/JPY Daily chart

Pound Sterling Price Today
 

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Australian Dollar.
 

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