The GBP/JPY pair has sharply declined, as by the middle of Monday’s trading the rate had passed various support levels and reached below the 150.00 level.
A continuation of the decline of the pair might find support in the weekly S1 simple pivot point at 149.36. However, take into account the 2021 low level zone at 148.50/149.35.
Meanwhile, a recovery might find resistance in the 150.00 mark. A passing of the 150.00 mark could find resistance in the 200 and 50-hour simple moving averages near 150.50 and 150.90.
