GBP/JPY: Positivity Remains

GBP/JPY achieved the first bullish target required to be touched at 154.30, recording its highest level at 154.34.

On the technical side, today, we tend to the positivity, but with caution, relying on the pair’s success in building the support floor of 153.80 and most importantly 153.60, accompanied by the positive stimulus coming from the 50-day moving average.

Therefore, the bullish bias is likely today, towards the target of the last report, 154.50 and 154.80, respectively, and the gains may extend later to visit 155.10.

On the downside, the return of trading stability below 153.40 cancels the suggested bullish scenario and puts the price under negative pressure, its initial target of 153.00.

S1: 153.85	R1: 154.50
S2: 153.40	R2: 154.80
S3: 153.00	R3: 155.20