GBP/JPY dips 0.08% as pair consolidates while Japanese officials warn over rapid currency moves. RSI above neutral keeps bullish momentum intact if buyers reclaim the 206.00 resistance zone. Break below 204.30 risks deeper correction toward 204.00 and the 50- day SMA near 202.17
GBP/JPY consolidates during Tuesday's session as the Japanese Yen (JPY) appreciates on threats of possible intervention of the BoJ in the FX markets, and also as Pound Sterling traders wait for the release of UK's fiscal budget. At the time of writing, the cross trades at 205.44, losing 0.08%.