GBP/JPY consolidates near a two-week high above 203.00 as traders pause ahead of the UK employment report. The pair’s recent bounce from 199.00 has slowed as market participants weigh upcoming data and broader macro risks.
The Japanese Yen remains under pressure amid BoJ rate hike uncertainty, providing support for the cross. Meanwhile, dovish BoE expectations and concerns over the UK fiscal outlook cap aggressive GBP buying.
📊 Outlook: A strong UK jobs print could fuel further GBP/JPY upside, while weak data may reinforce caution. Key support sits near 202.50–202.00, with resistance around 204.00.
