GBP/JPY: Chances to Rise

Positive trades dominated the pound’s movements against the yen within a gradually ascending path to the upside, building on support level 149.90.

On the technical side, we are inclined to the positivity, relying on stability above the mentioned support level and the clear positive crossover signs on the stochastic indicator.

During today’s session, we target 151.00, a first target. Its breach is a catalyst that contributes to consolidating the pair’s gains, opening the way directly to visit 151.50, as long as the daily trading is stable above 149.30.

Note: The level of risk may be high.

S1: 149.90	R1: 151.00
S2: 149.25	R2: 151.50
S3: 148.80	R3: 152.10