**Bulls Guard 200.00 Base While Momentum Stalls Below 203.00**
The British Pound (GBP) holds firm against the Japanese Yen (JPY) on Monday amid holiday-thinned trading in Japan. Investors are likely to refrain from large directional bets ahead of the Bank of England (BoE) interest rate decision scheduled for Thursday.
At the time of writing, GBP/JPY trades around 202.41, easing slightly from the intraday high of 202.79.
From a technical perspective, the pair bounced last week after testing a critical confluence zone near the 200.00 psychological handle. This level aligns with the 50-day Simple Moving Average (SMA) and a horizontal support that previously acted as resistance. This area continues to serve as a key floor for the cross, keeping the broader uptrend intact.
However, the 21-day SMA at 202.81 is capping immediate upside attempts, acting as a near-term barrier for bulls. A decisive break above this dynamic resistance could open the door toward the 204.00 level, followed by the 205.00 area. Notably, 205.00 marks both the year-to-date high and the highest level since July 2024.
On the downside, a sustained move below the 200.00 confluence support would expose the pair to renewed bearish pressure. The next target in that scenario is the October 3 high near 198.87, which also coincides with an unfilled bullish gap from October 6. A daily close below this region could reinforce downside momentum, putting the next support level around 197.50 into focus.
The Relative Strength Index (RSI) currently hovers around 53, reflecting a neutral bias as the pair consolidates within its broader bullish structure.
*Source: [FXStreet](https://www.fxstreet.com/news/gbp-jpy-price-forecast-bulls-guard-20000-base-while-momentum-stalls-below-20300-202511031417)*
https://bitcoinethereumnews.com/finance/bulls-guard-200-00-base-while-momentum-stalls-below-203-00/?utm_source=rss&utm_medium=rss&utm_campaign=bulls-guard-200-00-base-while-momentum-stalls-below-203-00
