The British pound rallied against the Japanese yen quite significantly during the trading week, reaching the ¥162 level. This is an area that could offer a little bit of resistance, and it should be noted that the market is overextended. The previous week was a massive shooting star, so it will be interesting to see if we can break above there. If we can, then it would obviously be very bullish. However, the market certainly looks as if it is struggling at this point. Of special note this week will be the ¥160 level.