GBPJPY Bullish above 151.00
The British pound is looking increasingly bullish against the Japanese yen, following a technical breakout above the 151.00 level yesterday. GBPJPY bulls have staged a bullish breakout above the triangle pattern after moving above the 151.00 resistance level. GBPJPY traders should also note that the Parabolic SAR indicator on the daily time frame is starting to issue a buy signal.
The GBPJPY pair is only bullish while trading above the 151.00 level, key resistance is found at the 152.80 and the 153.30 levels.
If the GBPJPY pair trades below 151.00, sellers may test the 150.50 and 149.90 support levels.