GBP/JPY Price Analysis: Bulls persist and propelled pair to fresh cycle

During Monday’s session

Sentiment is: Positive

Technical Analysis

GBP/JPY is moving towards a resistance line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If GBP/JPY continues in its current trajectory, we could see it reach 203.3699 within the next 8 hours.

GBP/JPY - getting close to resistance of a Rising Wedge

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