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GBP/JPY Outlook (03 May 2021)

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GBP/JPY Outlook (03 May 2021)

ByJin Dao Tai

 MAY 3, 2021

GBP/JPY Outlook (03 May 2021)

Overall, GBP/JPY is ranging across. Recently, GBP/JPY trended into the support zone of 151.000.

UK banks will be closed today in observance of May Day. Expect lower trading volatility and volume during the usual London market hours.

Japanese banks will be closed today in observance of Constitution Day. Expect lower trading volatility and volume during the usual Japanese market hours.

Also, Japanese banks will be closed tomorrow in observance of Greenery Day. Currently, GBP/JPY is testing the support zone of 151.000 and the next resistance zone is at 153.000.

Look for buying opportunities of GBP/JPY if it bounces off the support zone of 151.000.

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