GBP/JPY: Witnessing Positive Moves

The pound against the Japanese yen was able to achieve our bullish targets located at 150.45, recording its highest price during the previous session’s trading at 150.60.

On the technical side today, the bullish bias still dominates the pair’s movements, depending on the stability of trading above the 50-day moving average, which meets around the support level of 149.70.

The bullish scenario will remain valid and effective, targeting 150.70 the first target, and 151.15 after it. Activating the bullish scenario requires stability above 149.70.

Note: Stochastic is trading around overbought areas.

S1: 149.70	R1: 150.70
S2: 149.20	R2: 151.15
S3: 148.75	R3: 151.70