GBP/JPY: Negative Pressure Remains

The British pound continues to decline against the Japanese yen, after failing to maintain its stability above 150.50, heading towards touching the bearish target published during the previous report at 149.50.

On the technical side, we tend to the negative side, relying on the negative pressure coming from the simple moving averages, in addition to the stability of trading below 150.50/150.70.

We are targeting 149.10 and 148.80 respectively, knowing that breaking the latter puts the pair under strong negative pressure, its next target is 148.10. Activating the bearish scenario requires trading to remain below 150.70.

Note: the level of risk is high.

S1: 148.80	R1: 150.70
S2: 148.10	R2: 151.90
S3: 146.90	R3: 152.60