GBP/JPY continues to surge

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Monday morning, the GBP/JPY currency exchange rate reached the 157.40 mark. The 157.40 mark provided enough resistance of the pair to decline to the 50-hour simple moving average near 157.00.

If the price declines below the 157.00 mark, the GBP/JPY might reach the weekly simple pivot point at 156.61. Below the pivot point, the rate could look for support in the 200-hour simple moving average near 156.15 and the 156.03/156.12 zone.

On the other hand, a resumption of the surge of the Pound against the Japanese Yen might reach the January 5 high level at 157.78, before aiming at the 2021 high level at 158.23.
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