GBP/JPY: Tends to Negativity

The pound fell against the yen noticeably during last Friday’s trading, canceling the positive outlook as we expected, retesting the psychological support level of 156.00.

On the technical side, today, we are inclined to the negativity, relying on the stability of the intraday trading below the minor resistance level at 156.50 and the negative crossover signs that started appearing on the stochastic indicator.

From here, the daily trend is tilted to the downside, knowing that price stability below 156.00 opens the door to 155.50 and 155.00, respectively, as long as trading is stable below 156.40 and, most importantly, 156.80.

S1: 155.50	R1: 156.80
S2: 155.00	R2: 157.60
S3: 154.20	R3: 158.10