GBP continues to skyrocket towards ¥155

The British pound initially dipped slightly to open up the Asian portion of the trading session on Tuesday, but turned right back around to rally towards the ¥155 level.

The British pound has initially pulled back just a bit against the Japanese yen during Asian trading, only to turn around and rally yet again.

The market looks as if it is going to try to rocket towards the ¥155 level, an area that has been resistance more than once.

Investors study how to behave in that general vicinity, because the Japanese yen is oversold around the world.

Investors also pay close attention to the ¥155 level, because it is not only a large, round, psychologically significant figure, but it has been a clearly defined resistance barrier more than once.