By the middle of Thursday’s trading, the GBP/JPY had reached above the 153.20 level. During its surge, the rate was slowed down by the 151.50 level, the weekly R1 simple pivot point at 152.23 and the previous December high level at 152.60.
If the pair continues to surge, the 153.50 mark might slow down a surge. Meanwhile, the weekly R2 simple pivot point is located at the 153.87 level, which is close by to the 154.00 level.
However, a decline of the rate could find support in the previously passed resistance levels at 152.60, 152.23 and 151.50.
