GBP/JPY Consolidation Continues Amid Weak JPY

The GBP/JPY cross maintains its mildly bullish bias but remains in consolidation mode. The technical setup suggests limited directional momentum, keeping the cross anchored above key support levels.

GBP/JPY trades around 216.45, with momentum indicators indicating subdued buying pressure. The Relative Strength Index (RSI) hovers around 54, while the Moving Average Convergence Divergence (MACD) stays slightly above zero but shows fading positive momentum.

The Japanese Yen remains weak due to concerns over Japan's fiscal outlook and low interest rates compared with other major economies. This keeps the broader bias for GBP/JPY tilted to the upside, but sentiment around the British Pound remains fragile ahead of the October 28 Budget.