GBP/JPY analysis: Two scenarios likely
|GBP/JPY
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.
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