- GBP / JPY is bullish in the short term, while above 151.65.
- A consolidation above 152.20 is needed to clear the way for more gains.
The pair GBP/JPY again faces a strong barrier at the 152.00 / 152.20 band. A break to the upside would likely clear the way for more gains, probably targeting 152.80.
If the pound does not clearly break above 152.00, it could correct lower below 151.60, staying in the 152.00-151.00 range. A drop below 151.00 should point to further weakness ahead of GBP / JPY.
The technical indicators favor the rise in GBP / JPY but it needs to exceed 152.20 in the next sessions; otherwise, the key level to watch will be 150.75, the 20-day moving average.
4 hour chart
Technical levels
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