GBP/JPY: Breaks Support

GBP/JPY started its daily trading with a bearish bias, after it failed to stabilize for a long time above the 151.00 level.

On the technical side, we tend to the negativity today, relying on the stability of trading below the mentioned resistance at 151.00, accompanied by the RSI gaining bearish momentum on the short time frames.

Therefore, the bearish bias is likely today, targeting 149.95 first target, noticing that breaking it increases the strength of the daily bearish bias to pave the road for 149.50.

Activating the bearish scenario requires the price to remain below 151.00, and the return of trading stability above it will postpone the chances of a decline, and we will witness a retest of 152.40.

S1: 149.95	R1: 151.45
S2: 149.50	R2: 152.45
S3: 148.50	R3: 152.90