GBP/JPY Bears Press 209.00 as Downtrend Intensifies

The British Pound against the Japanese Yen (GBP/JPY) is experiencing significant losses, dropping over 0.17% in two consecutive trading sessions. This downward trend is seen as a threat to the support level of 209.40, with sellers likely pushing prices lower if this target is breached.

From a technical perspective, the overall downtrend suggests that GBP/JPY will challenge 209.00 next, followed by potential exposure of the 208.00 figure and the September 17 swing low of 207.87. The Relative Strength Index (RSI) is bearish, reinforcing this scenario.

However, if GBP/JPY manages to rise above 210.00, it could test the September 18 high at 211.28, with the next area of interest being the 200-day Simple Moving Average (SMA) at 213.13.