GBP/JPY analysis: Bulls could prevail
|GBP/JPY
Upside risks dominated the GBP/JPY exchange rate on Thursday. The Pound Sterling surged by 99 pips or 0.64% against the Japanese Yen during Thursday's trading session.
As for the near future, the exchange rate is likely to continue to trend bullish. Buyers could drive the price towards the weekly R1 at 155.72 within the following trading session.
However, the weekly pivot point at 155.24 could still provide resistance for the currency exchange rate in this session.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.