The pound experienced a significant rebound versus the Japanese yen, rising 300 pips from daily lows. GBP/JPY bottomed during the Asian session at 152.47, the lowest level in a week but then turned to the upside. It started to recover during the European session and then after wall Street opening bell extend the rally on the back of a stronger pound across the board. From the bottom to test last week highs GBP/JPY recently climbed to 155.36, the highest since last Wednesday and approached last week highs located at155.75/80. A break above could open the doors toward the next relevant resistance seen around 156.70 (Apr 6 high) and 158.40 (Mar 22 & 24 low). Momentum turned in favor of the pound but if it fails to break above 155.80 and droops under 154.00, April lows would be exposed again. For more information, read our latest forex news.