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The British pound started its daily trading significantly higher against the Japanese yen, benefiting from building a base on the support level of 150.40, and it is now trading around its highest level during early trading of the current session, 151.50.
On the technical side, and with the pair getting a positive stimulus from the 50-day moving average, in addition to the positive crossover signals coming from the stochastic indicator.
Thus, a bullish bias is likely during the coming hours, targeting 151.80 and 152.10 in succession, and targets may extend later to visit 152.60.
Only from below is the return of trading stability below 150.90 that puts the price under negative pressure again, with the aim of retesting 150.00 before rising again.
| S1: 150.90 | R1: 151.80 |
| S2: 150.35 | R2: 152.10 |
| S3: 149.90 | R3: 152.65 |
