GBP/JPY Price Forecast: British Pound breaks above 215.00, nearing intervention levels
Oleh Guillermo Alcala
Diperbarui: 2 Jun 2026
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The British Pound (GBP) keeps marching higher against an ailing Japanese Yen (JPY) on Tuesday.
- GBP/JPY breaks above 215.00, reaching its highest levels in more than one month.
- Comparatively low Japanese yields and uncertainty about the BoJ's policy are hammering the JPY.
- Japanese Finance Minister Katayama suggested that Tokyo is ready to intervene again.
The British Pound (GBP) keeps marching higher against an ailing Japanese Yen (JPY) on Tuesday. The pair has surpassed the 215.00 line for the first time since April 30, with the USD/JPY reaching levels right below 160.00, which is considered the limit of tolerable JPY weakness for the Japanese financial authorities.
The Pound is drawing some support from a moderate optimism about a negotiated end to Iran’s war, following news of a ceasefire in Lebanon. The Yen, on the contrary, remains depressed, crushed by the wide gap between Japanese Bond (JGB) yields and those of the world's major economies, and uncertainty about the Bank of Japan's monetary policy path.
Japanese Finance Minister Satsuki Katayama reiterated on Tuesday that Tokyo authorities are always ready to take the necessary steps regarding currencies, issuing a verbal warning to speculators, with no significant impact so far.
Technical Analysis: The next upside target is on the 215.50 area
GBP/JPY trades at 215.21, in a clear bullish trend from mid-May lows at the 211.30 area. The 4-hour Relative Strength Index (RSI) approaches overbought territory, hinting at strong but stretched upside momentum. Likewise, the Moving Average Convergence Divergence (MACD) line remains in positive territory with a positive histogram, reinforcing the constructive tone.
On the upside, the 161.8% retracement of the late May pullback, around 215.50, might offer some resistance ahead of the April 30 high, at 216.60. Bears, on the contrary, are likely to be challenged at a previous top, around 214.50, ahead of the 200-period Simple Moving Average (SMA) now a few pips above 214.00.
(The technical analysis of this story was written with the help of an AI tool.)
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.15% | -0.13% | 0.03% | -0.01% | -0.34% | -0.05% | -0.13% | |
| EUR | 0.15% | 0.03% | 0.15% | 0.13% | -0.18% | 0.11% | -0.00% | |
| GBP | 0.13% | -0.03% | 0.13% | 0.10% | -0.17% | 0.09% | -0.06% | |
| JPY | -0.03% | -0.15% | -0.13% | -0.03% | -0.34% | -0.07% | -0.19% | |
| CAD | 0.00% | -0.13% | -0.10% | 0.03% | -0.32% | -0.04% | -0.17% | |
| AUD | 0.34% | 0.18% | 0.17% | 0.34% | 0.32% | 0.26% | 0.11% | |
| NZD | 0.05% | -0.11% | -0.09% | 0.07% | 0.04% | -0.26% | -0.14% | |
| CHF | 0.13% | 0.00% | 0.06% | 0.19% | 0.17% | -0.11% | 0.14% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
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