The Pound did not miss the opportunity to strengthen in trading this week as safe-haven currencies including the Yen are getting less market demand at the moment.
This is due to the recovering market sentiment (risk-on) angkara there are some statements from experts who explain that the infection of the Omicron variant is not so annoying.
The impact of the Bank of England's (BOE) statement on raising interest rates at a previous meeting may also be taken into account as a reason why the Pound is able to be strong.
The price movement on the GBP/JPY chart seems to continue to show an excellent performance after recording a weekly spike so far of over 300 pips after declining at the end of last week.
The surge has also completely re-tested the height level reached last week around 152.600-152.000 which is also assessed as an SBR (support become resistance) zone.
Not only that, investors are likely to evaluate the reaction of the surge as if it is indicating a trend change signal after the price has already broken the trendline resistance in the daily timeframe.
This situation will certainly support investors in making the earliest target in the next zone of 153,000 to return to the lead if the price movement continues to show a bullish trend.
That is, the bullish trend is more clearly visible as the price continues to move above the Moving Average 50 (MA50) barrier level which may be able to drive an aggressive surge to the 155,000 zone.
However, there is also an expectation that the price movement will likely retrace the RBS (resistance become support) zone at 151.000 if the price returns to decline.
The tendency in making lower price declines is expected to push the price to hit the strongest support zone in 9 months observed at the 149,000 zone.
