The GBP/JPY tests the 179.00 level

The GBP/JPY has retraced more than 300 pips during today’s session. On its way to the 179.00 level, the pair encountered some resistance around the round number levels, where it tried to consolidate for a while, but the price kept rising until reaching the 179.00 level. From that zone, the price may try to bounce back down, but we must be attentive to a possible breakout, which could take the price to the next round number level of 180.00.