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GBP/JPY succeeded in touching the first target published in the previous analysis, at 151.70, recording a high of 151.95.
Technically, the 50-day moving average still supports the daily bullish trend, in addition to the pair’s base on the support floor of 151.10/151.00.
Therefore, we will maintain our positive outlook, targeting 151.80 and 152.40, respectively. However, the return of trading below 151.10 negates the bullish scenario, and we may witness a bearish slope that aims to retest 150.70, and then 150.30.
| S1: 151.10 | R1: 151.80 |
| S2: 150.70 | R2: 152.25 |
| S3: 150.00 | R3: 152.55 |
