GBP/JPY Price Forecast – British Pound Reaching Towards ¥150

GBP/JPY Price Forecast – British Pound Reaching Towards ¥150

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The British pound has gone back and forth during the course of the trading session on Friday as we continue to see a lot of noise in general. The ¥155 level above is significant resistance as we have seen multiple times, and it looks like we are trying to build up enough momentum to finally go looking towards higher levels above there, but if we were to break above the ¥150 level, the market could very well take off to the upside. At that point, I would anticipate a move to the ¥160 level.

GBP/JPY Video 24.05.21

Underneath, I believe that the ¥153.50 level continues to be massive support, which is an area that has held over the last couple of weeks. We have seen a massive move above that level to show signs of strength, and therefore I think what we are seeing here is an opportunity to back up and build up momentum to the upside. Ultimately, this is a market that I