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>>GBP/JPY climbs over 209.00, highlighting a pivotal breakout amid growing yen weakness.

GBP/JPY climbs over 209.00, highlighting a pivotal breakout amid growing yen weakness.

crypthub

about 9 hours ago

Technical Breakout

The GBP/JPY pair has retaken the 209.00 level, ending a two‑week range. A close above this threshold indicates buying pressure overcoming prior equilibrium. Moving averages converge, hinting at pending volatility, while RSI moves out of neutral but stays below overbought. Next resistance lies near 210.50, with 209.50 as the immediate test.

Yen Weakness Drivers

The move is chiefly powered by a weakening yen against major currencies. The Bank of Japan’s ultra‑accommodative policy creates a large yield gap with the UK, fueling carry‑trade outflows. Inflation moderation and easing safe‑haven demand further depress the yen. Persistent capital flight and negative real yields reinforce the trend.

Market Outlook

Bullish scenarios require a weekly close above 209.50, opening a path to 211.00; a rejection would pull the pair back into 207.50‑209.50 consolidation. Traders watch USD/JPY and BoJ policy cues for possible reversal. Position sizing should remain cautious due to crowded short yen bets and the risk of official intervention.