GBP/JPY: Settles Above Support Level 11/1/2022

GBP/JPY made positive attempts, building on a support level of 155.60, recording a high of 157.40.

Technically, we tend to the positivity, relying on the stability of the intraday trading above 156.00 support level accompanied by the positivity features that start to appear on the stochastic indicator and getting rid of the intraday negativity.

Therefore, we may witness a bullish bias during today’s trading, knowing that the breach of 157.40 is a catalyst that may enhance the chances of rising to visit 158.10 and 158.50 as long as prices are stable intraday above 156.00.

Note: The level of risk may be high.

Note: CFDs involve risks; all scenarios may occur.

S1: 155.90	R1: 157.40
S2: 155.20	R2: 158.10
S3: 154.40	R3: 158.80