An important base is emerging in the GBP/JPY pair. Economists at Credit Suisse expect GBP/JPY to soar towards the 159.80 mark.

See – GBP/JPY: The uptrend is likely on its last legs – DBS Bank

GBP/JPY is basing out

“GBP/JPY has completed a near-term base above 152.86 which we look to clear the way for a test of the 156.08/156.62 highs of 2018 and earlier this year.”

“With a major base already seen established in February 2021, we look for a break above 156.62 to further reinforce the positive outlook, with resistance seen next at 159.80.”