The GBP/JPY pair is poised for an interesting week ahead as traders keep a close eye on key economic indicators. The British pound has been showing strength against the Japanese yen in recent sessions, but uncertainty remains as the market remains volatile.
Traders will be looking for any signs of a break above the key resistance level of 155.00, which could signal a bullish continuation for the pair. On the downside, a break below support at 151.00 could indicate a bearish reversal.
The upcoming week will bring important data releases, including UK GDP figures and Japanese inflation data. These reports could provide further insight into the health of the respective economies and potentially impact the direction of the GBP/JPY pair.
Overall, traders should remain cautious and vigilant as they navigate the twists and turns of the forex market. Keeping a close watch on key levels and economic indicators will be crucial in determining the next moves for the GBP/JPY pair.