The GBP/JPY currency pair saw moderate gains on Monday as the Pound strengthened against the Japanese Yen, recovering from Friday's lows and moving back into the upper range of the 203.00s. This upward movement, however, reflects a cautious stance, particularly as traders approach a critical resistance zone between 204.05 and 204.25.
The long wicks evident on the daily chart indicate a degree of hesitation among market participants, suggesting that the 204.00 level may pose a formidable barrier. As trading continues, the outcome of this resistance will be pivotal for the Pound's trajectory against the Yen, with potential implications for broader market sentiment and exchange rate dynamics.
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Data Source: FX Killer Analysis Team Updated: 2025-11-17 09:45
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.