GBP/JPY Perking Up - Key Levels to WatchBritish Pound / Japanese YenFOREXCOM:GBPJPYFOREXcomChatGPT said: GBP/JPY is consolidating near 199.40, holding just below the 200.00 psychological level. Price has been moving sideways within a tight range, signaling indecision after a strong rally from the July lows. Key technical factors: Support and Resistance: The pair is trading above both the 50-day SMA (198.65) and 200-day SMA (194.34), reinforcing a bullish bias. Immediate resistance sits at 200.00–200.50, while near-term support is found around 198.00. Momentum Indicators: The RSI is steady around 54, reflecting balanced momentum without clear overbought or oversold signals. The MACD remains marginally positive, suggesting bullish momentum is intact but subdued. Trend Outlook: The broader uptrend remains supported as long as GBP/JPY holds above the 50-day SMA. A breakout above 200.50 could trigger fresh upside, while a close below 198.00 would point to a deeper pullback toward the mid-190s. Overall, GBP/JPY is in consolidation mode, with bulls needing a breakout above resistance to resume the uptrend. Until then, range trading is likely to dominate. -MW