GBPJPY Chart Technical Outlook is on its way to 204.50 and 205.00 with intervention risks looming
The GBP/JPY keeps rallying, with the Yen weighed by the sharp yield gap against most currencies and positive market sentiment. The pair is overbought, but there are no signs of a reversal so far. Japanese authorities, however, might step in at any time to rescue the JPY.
Buying pullbacks seems the best option at this moment. Resistances are 204.50 and 205.00. Supports are 202.45 and 201.35.
