- GBP / JPY extended the rally from 149.00 after breaking 151.70.
- The bullish bias remains, the next targets at 152.35 and 152.65.
The GBP/JPY it resumed higher after consolidating on Friday and rose to 151.17, reaching the highest level since September 17. It remains close to the top of the range, hovering above 152.00 with a bullish tone intact.
Technical indicators favor more gains during the next session, with the next target around 152.30. Above the next resistance it stands at 152.60.
A dip below 151.60 should ease the downward pressure, while a break below 150.80 would expose 150.00.
The pound rose for the fourth day in a row against the yen and rose above the 20- and 55-day simple moving average. A pause may seem likely; still, a daily close above 151.50 should point to more gains.
4 hour chart
Technical levels
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