The British pound made significant gains against the Japanese yen on Monday, reaching towards the ¥154.25 level. The next major resistance is at ¥155, with a potential bullish sign leading to a move towards ¥157.50.
Support is seen at the ¥152.50 level, previously acting as resistance. Breaking above this level would be a bullish signal, indicating a “buy on the dips” strategy. The market is closely tied to the USD/JPY pair, with focus on the Japanese yen’s movements.
A breakdown below ¥152.50 could lead to a drop towards ¥150, a key support level. The market appears to be in a consolidation phase, with noise in recent days creating uncertainty. Breaking above ¥155 could signal a longer-term bullish trend.
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