GBPJPY attacking the 150 resistance

05/03/2021

The GBPJPY pair continues to rise amid JPY weakness (the USDJPY pair is up 200 pips in March so far), with the Pound now attacking the important 150 level.

The last time sterling was here was in April 2018.

On Friday, the cross was consolidating, while the volatile environment is expected to continue as US yields continue to climb. 

Should the GBPJPY cross settle above the important 150 threshold, it could be another bullish sign that the price wants to move even higher. 

In the case of a breakout, bulls might push the price toward April 2018 highs near 154.

Alternatively, if a sell-off occurs, supports are seen at 149.20 and 148.10. Sterling must stay above these levels to remain in an immediate uptrend. 
Cookie Policy: The Axiory website uses cookies and by continuing using the website you consent to this. Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please read the full Privacy Policy.