GBP/JPY Price Analysis: Testing 151.60, the door to 152.00
|- GBP/JPY holds firm above 151.00, improving the bullish bias.
- Currently testing the 151.60 area, above the next target stands at 152.00.
The GBP/JPY pair is about to post the fourth consecutive daily gain and the highest close since in three weeks, supported by the improvement in risk sentiment after the FOMC meeting and the rally in GBP/USD.
The pound is starting to test the 151.60 area that is the resistance that protects 152.00. The bullish tone remains intact ahead of the Asian session. A slide below 151.20 would alleviate the pressure, still while above 150.60, the chart will continue to favor the upside.
The GBP/JPY will likely face strong resistance at 152.00, a break higher would reaffirm the bullish outlook. On the flip side, under 150.60, cross will likely be back into the 149.50/150.50 range.
GBP/JPY 4-hour chart
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