FX.co ★ GBP/JPY

Buyers continue to hold the initiative in the GBPJPY currency pair. It turns out that the main goal for the bulls now is to consolidate above 218.00, and they have a real chance of carrying out this plan. If they manage to firmly secure above 218.00, the rise can continue toward 218.75. And if they also manage to break through the 218.75 level, then a move up to 219.55 becomes realistic and, possibly, they could even reach 220.30. There are no prerequisites for selling, unless you try to profit on a pullback, but this option is very risky, they might not give a proper pullback. Of course, with the yen you have to stay alert in any scenario, but for now only further growth of GBPJPY is shaping up.