Wed, Jun 23, 2021 @ 12:57 GMT
HomeContributorsTechnical AnalysisGBP/JPY Breaks Significant Resistance Line

GBP/JPY Breaks Significant Resistance Line

The Pound Sterling surged by 84 pips or 0.55% against the Japanese Yen on Monday. The currency pair breached a significant resistance level at 154.30 during Monday’s trading session.

Given that the GBP/JPY exchange rate has breached the resistance level, as mentioned above, bullish traders are likely to target the 155.50 area during the following trading session.

However, the weekly resistance level at 155.07 could provide resistance for the currency exchange rate in the shorter term.

Dukascopy Swiss FX Group
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