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GBP, JPY, Technical analysis, Pound, Yen

GBP/JPY: Attacks The Psychological Barrier

The British pound jumped against the Japanese yen as we expected during the previous analysis, touching the official target station at 152.60, to hit a high of 154.01.

On the technical side today, with the pair succeeding in surpassing the resistance level 153.30 and the most important 152.80, which has now turned into a support level, in addition to the positive motive of the 50-day moving average.

Therefore, the bullish bias is likely today targeting 154.15, the first target, and breaching it will extend the pair’s gains towards 154.80.

Note: we may witness a bearish bias targeting a re-test of 152.80 before attempting to rise again.

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

S1: 152.70R1: 154.15    
S2: 151.95 R2: 154.80    
S3: 151.10   R3: 155.55   

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