The GBP/JPY pair is approaching the significant psychological level of 200.00, driven by a combination of factors:

• Weak Yen: The Bank of Japan’s accommodative monetary policy continues to weigh on the Japanese Yen, boosting the GBP/JPY pair.
• UK Fiscal Policy: The upcoming UK Autumn Forecast Statement could provide insights into the government’s fiscal plans, potentially impacting the Pound Sterling.
• Global Economic Outlook: Global economic uncertainties and geopolitical tensions are also influencing currency markets.

Technical Analysis:

• Upward Trend: The pair is in a strong uptrend, with potential for further gains.
• Resistance Level: The 200.00 level is a key psychological resistance level.
• Support Levels: Recent support levels can be identified, but the overall trend is bullish.