The Pound Sterling surged by 84 pips or 0.55% against the Japanese Yen on Monday. The currency pair breached a significant resistance level at 154.30 during Monday’s trading session.
Given that the GBP/JPY exchange rate has breached the resistance level, as mentioned above, bullish traders are likely to target the 155.50 area during the following trading session.
However, the weekly resistance level at 155.07 could provide resistance for the currency exchange rate in the shorter term.
