GBP/JPY: 215.00 Is the Only Number That Matters!Great Britain Pound vs Japanese YenCFI:GBPJPYCFIThe GBP/JPY pair witnessed a sharp rally from the 210.30 low recorded in late March, reaching a peak near 216.00 in mid-April. Since then, the pair has entered a sideways consolidation range between 215.00 and 216.00 for the third consecutive week, reflecting a post-rally consolidation phase without forming new highs or lows. The 215.00 level represents the key line of defense, having been tested multiple times, and remains the level bulls must hold. Key Price Zones 216.000 – Resistance / Supply Zone: This level represents the upper boundary of the consolidation range, where multiple breakout attempts have failed since April 15. The most recent test on April 26 resulted in a bearish reversal candle, confirming strong selling pressure at this level. 215.000 – Pivot / Battleground: This is the most contested level on the chart, repeatedly flipping between support and resistance since April 14. Price is currently trading slightly above it at 215.337. A 4-hour close below this level would signal the activation of a bearish scenario. 214.000 – Support / Demand Zone: This area served as the base of consolidation during the April 12–14 retest before the uptrend resumed. A break below 215.00 would bring this zone back into focus as the primary downside target. Moving Average The 50-period simple moving average stands at 215.235, close to the current price. Price is trading slightly above it with no clear separation, while the moving average is flattening, reflecting the current range-bound conditions. Relative Strength Index The RSI is currently at 46, while the signal line stands at 56. The indicator remains below its signal line in a sustained bearish crossover since the April 19 peak and is positioned below the midline in neutral-to-bearish territory. Importantly, it has not yet reached oversold levels, suggesting potential for further downside before any technical rebound. Additionally, the signal line at 56 is acting as resistance for momentum.