GBPJPY at a critical resistance.
The Japanese yen has seen very rough days lately, constantly weakening again its major pairs such as the USD but also GBP.
The GBPJPY pair is currently at a very interesting level that everyone else is probably watching. There's a very strong resistance up there and maybe it's time for the global JPY bear trend to take a breather. Wait for a momentum confirmation. Also watch EURJPY, AUDJPY, CHFJPY and NZDJPY for interesting movements/levels.
On the fundamental side however, the GBP has an overall positive outlook that hasn't been too much derailed by the Omicron COVID variant.
The GBPJPY pair is currently at a very interesting level that everyone else is probably watching. There's a very strong resistance up there and maybe it's time for the global JPY bear trend to take a breather. Wait for a momentum confirmation. Also watch EURJPY, AUDJPY, CHFJPY and NZDJPY for interesting movements/levels.
On the fundamental side however, the GBP has an overall positive outlook that hasn't been too much derailed by the Omicron COVID variant.
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