FXstreet.com (Córdoba) - Cable rose sharply against the Yen on Monday favored by the rally in stocks. GBP/JPY peaked at 151.60 posting a fresh one-week high. The pair then pulled back and found support at 150.20. Currently the pair trades at 150.70/80 and finished the day above 150.00 for the first time since October 29.
On a wider view it is still moving sideway. If GBP/JPY breaks above 153.70 Cable could gain momentum. On the downside the pair has a key support at 146.00/25.