- GBP / JPY remains bullish, testing recent highs, with its sights set on 155.00.
- Below 153.90, a deeper correction looks likely, next support at 153.40.
The pound remains near its highest level in years against the Japanese yen, hovering around 154.30. A consolidation above 154.40 would strengthen the pound, suggesting further gains. The next resistance could be seen at 154.80, before the strong 155.00 barrier.
On the other hand, immediate support could be seen at 154.10, followed by 153.80 (short-term bullish trend). A break below 153.80 would ease the bullish pressure, suggesting a test of the support band at 153.45 / 50. A break to the downside would indicate a deeper correction.
From a broader perspective, as long as it is above 145.00 / 20 (long-term uptrend line), the outlook will remain positive. The next long-term resistance is seen at the 155.00 area. A clear monthly close at the top would point to more gains in the medium term.
4 hour chart
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
