GBP/JPY fell to 211.78 as safe-haven demand for the Japanese Yen rose following hawkish Fed comments, with the pair struggling to clear key SMA resistance levels at 212.93 and 213.03.
Hawkish Fed comments boosted safe-haven demand, with the Yen gaining 0.51% against the USD and 0.19% against the GBP on the day, and it was the strongest major currency against the Australian Dollar.
The cross fell about 0.22% to 211.78 as hawkish Fed comments lifted the safe-haven Yen. Price trades below the 100- and 200-day SMAs at 212.93 and 213.03, capping upside, though momentum is still bullish with the RSI drifting lower.
The Pound lost ground broadly as the Dollar strengthened on hawkish Fed comments, falling 0.70% against the USD and 0.22% against the JPY in the session shown in the currency heat map.
The GBP/JPY pair retreated 0.22% to 211.78 as hawkish commentary from Federal Reserve officials bolstered the US Dollar and increased demand for the safe-haven Japanese Yen. While the pair maintains a bullish momentum, technical resistance at the 100-day and 200-day SMAs, located at 212.93 and 213.03 respectively, continues to cap upside potential.
The Yen rose 0.51% against the US Dollar, 0.04% against the Euro and 0.19% against the Pound, and was the strongest against the Australian Dollar.
Hawkish comments from Fed officials strengthened the US Dollar and lifted safe-haven currencies like the Japanese Yen, pushing the cross down about 0.22% to 211.78.
Resistance sits at 212.93-213.03, then 213.20 and 214.00, with the August 25 high at 217.48 beyond. Support lies at 211.19, then the 50-day SMA at 210.03 and the October 23 low at 209.13.
Hawkish comments from Fed officials strengthened the US Dollar and safe-haven currencies, leaving the Pound down 0.70% against the Dollar and 0.22% against the Yen.