GBP/JPY Price Forecast: Bears circle 207.00 as RSI rebounds

The GBP/JPY cross-pair shows a slight increase, trading near 208.30, as risk appetite declines due to rising energy prices and bond yields, with investors cautious about potential inflation acceleration before three monetary policy decisions by major central banks. The Pound Yen appears set to consolidate around the monthly low of 207.00, following Japanese market interventions.

The overall trend is downward, and a breach of 207.00 could trigger interest in the November 14 low of 202.34, followed by the 200.00 milestone. The Relative Strength Index (RSI) is bearish but has crossed above the 30 oversold level, suggesting some buying interest. If GBP/JPY rises above the September 11 high of 208.92, it could target 209.00 and then 210.00.

Japanese Yen emerged as the strongest currency against other major currencies this week. AUD/USD, however, faced pressure, nearing the 0.7100 mark before rebounding to the 0.7150 region ahead of Asian markets' opening bell. Investors will closely monitor China's key data releases later in the week. USD/JPY sees some buying at the beginning of the week, climbing towards the 154.00 mark in Asia, reversing some Friday losses.

Prices remain in a range, nearing a seven-month low, as traders await central bank events. Gold gains further upside, testing the $4,300 mark per troy ounce, but remains under pressure from a stronger US Dollar and rising Treasury yields. JasmyCoin displays stability, between $0.0035 and $0.0040 support and resistance levels, with bearish momentum dominating as bulls strive to uphold key supports.

Fed rate hike expectations rise following PPI and CPI reports, with the Fed dot plot becoming crucial for the dollar's reaction. Warsh faces a test to his independence amid pressure from Trump to lower rates. For the dollar to maintain gains, the Federal Reserve must meet hawkish expectations.