GBP/JPY:ِ Tends to The Downside

Sideways trading in a narrow range, constrained between 155.20 and 155.80 without any significant change.

On the technical side today, and with a careful look at the 60-minute chart, we are inclined to the negativity, but with caution, relying on the intraday stability below 155.80, accompanied by the clear negativity on the stochastic indicator.

Therefore, we may witness a bearish tendency in the coming hours, targeting 155.10/154.90, a first target, and then 154.50. Activating the bearish scenario depends on the price remaining below 155.6/155.70.

Note: Today we are awaiting the US jobs data later and we may witness high volatility in prices.

S1: 154.90	R1: 155.65
S2: 154.50	R2: 156.00
S3: 154.00	R3: 156.35