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GBP/JPY slips within range as trendline caps recovery

The pair bounced from support around 207.60 to about 208.99 before settling near 208.66, up 0.14% on the move.

Reported · Written up by our desk · Major Pairs

FXStreet reports that GBP/JPY found support near 207.60 and bounced toward a daily high of 208.99 before settling around 208.66, a gain of 0.14%.

The outlet said the cross is trading near the middle of the 207.50 to 211.00 range, but it has been unable to clear a resistance trendline near 209.00. It also noted that the RSI momentum appears bearish yet turned flat, pointing to further consolidation ahead.

FXStreet added that a move above 209.00 would expose the September 24 high at 210.15, then 211.00, with the next level at 211.28 if that is surpassed. On the downside, a drop below 208.00 would bring the September 17 low at 207.87, followed by 207.50, and then 207.10 ahead of 207.00.

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