The GBP/JPY currency pair has shown bullish momentum at the start of the week, with the British Pound gaining modestly while the Japanese Yen weakens. After hitting a low of 206.20 on Friday, the pair is now targeting key resistance at 207.35, a level that has not been breached in 17 months. The positive market sentiment is contributing to this upward trend, favoring the Pound against the Yen.
As traders remain optimistic, the fundamental backdrop continues to support the Pound, indicating potential for further gains. If the bulls manage to overcome the 207.35 barrier, we could see an extension of the rally, with traders closely monitoring the exchange rate for signs of sustainability. The ongoing fluctuations in the forex market highlight the dynamic interplay between these two currencies as the week progresses.
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Data Source: FX Killer Analysis Team Updated: 2025-12-08 11:19
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.