GBP/JPY:ِ Looking For Positive Signals

The current movements of GBP/JPY are witnessing an upward bias as a result of building a base at the support level of 154.30. On the technical side, we are biased towards positivity today, but cautiously, relying on attempts to capture the stochastic indicator for more additional momentum.

We are targeting a retest of 155.70, a first target, and its breach is a catalyst that enhances the chances of rising to visit 156.10. On the downside, The breach of the support level 154.35 may negate bullish attempts and renewing negative pressure, with an initial target of 154.00, and extending later to visit 153.60.

Note: the risk level may be high today.

S1: 154.65	R1: 155.70
S2: 153.90	R2: 156.10
S3: 153.55	R3: 156.80