GBPJPY finds buyers after last week´s dip

12 April 2021 | Updated: 12 April 2021

Key Support: 149.50
Key Resistance: 153.00

The British Pound has been vey strong since it retested the 133 level back in September 2020, rallying more than 15.30% from the lows to the highs of last week without having enormous pullback. The biggest one was back at the beginning of March when the GBPJPY retraced 2.70%.

We are vey bullish the GBP and mildly bearish the Yen. All this creates a big bullish push in this pair.

Now that the pair has pulled back 76.4% to retest the 149.50 level and has broken with the immediate bearish structure we are ready to buy at the break of this week´s highs.

Targets should be the previous broken key level but if you look at the weekly chart, a break above the 154 level opens a MASSIVE upside here. So heads up to that.

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