GBP/JPY:ِ Begins to Pressure Support

The Pound against the Japanese Yen starts its morning trading with clear negativity and starts pressing on the support level of 153.00. On the technical side, today we tend to the negativity, relying on confirming the pair’s breach of the psychological barrier’s support level, which is now turned to the resistance level of 154.00, accompanied by the stochastic losing the bullish momentum.

From here, we target 152.50 the first target, and breaking it will extend the losses, opening the way directly towards 151.90. Skipping up and rising again above 154.00 will stop the bearish scenario and lead the pair to an ascending path, targeting 154.40.

S1: 152.50	R1: 154.40
S2: 151.90	R2: 155.65
S3: 150.60	R3: 156.30