• GBPJPY reversed from support area
• Likely to rise to resistance level 152.00
GBPJPY recently reversed up from the support area lying between the support level 150.00 (which has been reversing the price in the last few trading sessions), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from February. The upward reversal from the support level 150.00 continues the predominant uptrend that can be seen on the daily GBPJPY charts.
Given the continuation of the bearish yen sentiment seen across the Forex markets today – GBPJPY can be expected to rise further toward the next resistance level 152.00 (top of the previous minor correction (b) from the middle of this month).