GBP/JPY:ِ Tends to The Positive

Negative trades dominated the movements of the pound sterling against the Japanese yen, touching the first target published during the previous analysis at 154.50, recording its lowest level at 154.55.

On the technical side today, and with careful consideration on the short time frames, we find the RSI trying to gain bullish momentum, in addition to stabilizing intraday trading above 154.50.

Therefore, we may witness a bullish bias in the coming hours, with the aim of retesting 155.30 and 155.60, respectively. Breaking 154.50 is able to completely thwart the suggested scenario and put the pair under negative pressure targeting 154.10/153.80.

Note: Stochastic is trading negatively.

Note: The risk level is high.

S1: 154.55	R1: 155.30
S2: 154.10	R2: 155.65
S3: 153.70	R3: 156.10