Overall, GBP/JPY is ranging across. Recently, it broke below the key level of 147 after the escalation of the Russia-Ukraine geopolitical tensions, leading to the strengthening of JPY.
The Preliminary GDP QoQ data released last Friday indicated a slight slowdown in economic growth during the fourth quarter of 2021.
Currently, GBP/JPY is bouncing off the support zone of 156.000, and the next resistance zone is at 158.000.
Look for short-term selling opportunities of GBP/JPY only if it trades below the support zone of 156.000.
