GBP/JPY Soars Above 218.00 Amid Fed Decision-Driven Risk Appetite Surge
The GBP/JPY exchange rate has surged by over 0.30% after reaching a low of 217.16, as risk appetite improves amid overall US Dollar weakness following the Federal Reserve's monetary policy decision.
With the Relative Strength Index (RSI) indicating momentum in favor of further upside, analysts expect the path of least resistance to be tilted towards the upper end of the range.
The next key resistance level for GBP/JPY is at 219.00, with further support coming from the confluence of July 15 and 20 daily peaks at 219.57/61.