GBP/JPY Holds Near 200.00 as Bulls Await UK Data Boost

GBP/JPY extended its winning streak for a third straight session on Friday, with buyers once again testing the 200.00 psychological barrier during Asian trading. The pair is trading close to its highest level since July 2024, and investors now turn their attention to upcoming UK economic releases for fresh momentum into the weekend. The Japanese Yen remains under pressure as uncertainty lingers over when and how quickly the Bank of Japan might begin cutting interest rates, while improved risk sentiment continues to limit the JPY’s safe-haven appeal. At the same time, fading expectations of an immediate Bank of England rate cut, combined with a softer US Dollar, are lending further support to the British Pound and fueling intraday gains. Technically, repeated failures to secure a sustained break above 200.00 suggest patience is warranted until the pair clears the year-to-date high near 200.35. If that occurs, momentum indicators on the daily chart still leave room for upside, which could allow the pair to challenge resistance at 200.75, then the 201.00 round figure, followed by a stronger barrier near 201.60. On the downside, immediate support is seen around 199.25 ahead of the 199.00 handle, with deeper pullbacks expected to attract buyers near 198.40. A decisive break below that zone could trigger technical selling, opening the way toward sub-198.00 levels and potentially extending losses toward 197.35–197.30 before retesting the 197.00 area.