GBP/JPY analysis: Bulls could prevail

Dukascopy Bank Team Dukascopy Bank SA

GBP/JPY

Upside risks have dominated the British Pound against the Japanese Yen since Friday's trading session. The GBP/JPY currency pair has surged by 190 pips or 1.25% during this period.

As for the near future, the exchange rate is likely to continue to trend bullish. Buyers could target the weekly resistance level at 153.89 within the following trading session.

However, a resistance level at 153.36 could provide resistance for the currency exchange rate in the shorter term.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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