GBP/JPY Price Analysis: Faces solid resistance around 154.60, braces to the 154.10s By christianborjon GBPJPY Crosses
K employment report amid a mixed market mood. At the time of writing, the GBP/JPY is trading at 154.21.trading with gains. In the FX space, safe-haven peers trade softer as the trading day progresses.Data-wise, the UK reported employment figures, which beat expectations, thus raising the prospects of the GBP. Along with last Friday’s solid GDP data, those figures and theOvernight, the GBP/JPY climbed near the 154.50 area but plunged 100-pips, though recovered on risk-appetite near the 154.
Upwards, the GBP/JPY first resistance would be March 15 high at 154.68. Breach of the latter would expose the 155.00 mark but beware of a possible consolidation in the 154.60-155.00 range. Nevertheless, a decisive break of the former would expose 156.00.
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