Tue, May 18, 2021 @ 11:02 GMT
Home Contributors Technical Analysis GBP/JPY Two Scenarios Likely

GBP/JPY Two Scenarios Likely

Upside risks dominated the GBP/JPY currency pair on Friday. As a result, the Great British Pound surged by 110 pips or 0.74% against the Japanese Yen during Friday’s trading session.

All things being equal, bulls could continue to pressure the exchange rate higher during the following trading. A breakout through a resistance line at 150.72 is likely to occur.

However, if the resistance level holds, bearish traders could target the 149.60 area during the following trading session.

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.

Featured Analysis

Learn Forex Trading