GBPJPY under bullish pressure after the earlier upward reversal from the long-term support level 126.80 (which stopped the two strong weekly downtrends in 2016 and 2019 respectively).
The price is still trading well below the lower weekly Bollinger Band – which is adding to the bullish pressure on this currency pair.
Given the strength of the aforementioned support level 126.80 – GBPJPY is likely rise further toward the next resistance level 135.00.
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The single currency is trading near $1.076, waiting for further cues and facing serious resistance…
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