GBP/JPY analysis: Bulls could prevail

Dukascopy Bank Team Dukascopy Bank SA

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.

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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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