GBP/JPY: Looking For Extra Momentum

The British pound continues to trade positively against the Japanese yen, benefiting from stability above the support level of 151.70/151.60.

On the technical side, today we tend to the positivity, but cautiously, relying on the clear positive signs on the RSI, which coincides with the clear positivity features on the stochastic indicator.

We await confirmation of the breach of 152.30, which extends the pair’s gains to visit 152.70 first target, and then 153.10 next official station

Trading below 151.60 can thwart the current bullish attempts and put the price under negative pressure, starting with its initial targets around 151.10.

S1: 151.60	R1: 152.30
S2: 151.10	R2: 152.70
S3: 150.70	R3: 153.10