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GBP/JPY holds near 215 as resistance near the 50-day SMA caps gains

The pair is trading just below the 50-day SMA at 215.43, with first support seen at 215.00 and no clear directional push indicated by a flat RSI at 50.

Reported · Written up by our desk · Major Pairs

GBP/JPY was holding steady around 215.00, with neither buyers nor sellers prepared to take fresh directional bets amid concerns about possible renewed FX intervention by US and Japanese authorities to support the Yen, FXStreet said.

The cross pair was hovering below the 50-day Simple Moving Average, leaving advance capped and pushing price action into a sideways range. FXStreet also cited a Relative Strength Index at the neutral 50 level, which it said reflects a lack of strong conviction on either side.

On FXStreet’s levels, initial upside resistance sits at the 50-day SMA near 215.43, followed by 216.00. A break above would aim toward 216.50 and then the 217.00 psychological level, while the first support is at 215.00, followed by the 100-day SMA at 214.55.

Further down, the 200-day SMA is around 212.12, which remains above the August 7 low at 211.47. FXStreet noted that the yen’s value is influenced by Bank of Japan policy, including its history of currency control and occasional direct intervention, as well as yield differentials versus the US and broader trader risk sentiment.

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