GBP/JPY Awaits Temporary Decline

GBP/JPY managed to achieve the first target required to be touched during the previous analysis at a price of 152.55, and it is close a few points from the second target of 152.90, recording the highest of 152.80.

On the technical side, the current trading is witnessing a bearish tendency, as a result of the stochastic entering around the overbought areas.

We tend to be negative during the coming hours, targeting a re-test of the 151.70 support level, a first target, knowing that the breach of the target level increases the negative pressure on the pair so that the way is directly open towards 151.00.

The required scenario depends on trading remaining below 152.60.

S1: 151.70	R1: 152.55
S2: 151.00	R2: 152.95
S3: 150.40	R3: 153.70