GBP/JPY: Built on Support

Notable gains dominated the moves of the pound sterling against the Japanese yen within the expected bullish context, surpassing the required target of 148.60, recording a high during early trading for the current session at 150.13.

On the technical side, despite the bullish daily trend, we tend to be negative in the coming hours, relying on the stochastic entering the overbought phase.

Thus, we may witness a re-test of 148.50 before attempting to rise again.

Note: the bearish trend does not contradict the daily bullish trend.

Note: The level of risk may be high today.

S1: 148.00	R1: 150.45
S2: 146.60	R2: 151.50
S3: 145.50	R3: 152.90