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GBP/JPY 4H Chart: Buying Signals

The British Pound has surged by 450 pips or 3.13% against the Japanese Yen since the beginning of February. The currency pair breached the 147.50 level during this week’s trading sessions.

All things being equal, the GBP/JPY exchange rate is likely to continue to trend bullish during the following trading session. Bullish traders might target the 150.00 level.

However, a resistance line formed by the upper boundary of an ascending channel pattern could provide resistance for the currency exchange rate this week.

Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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