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The negative pressure continues to dominate the movements of GBP/JPY within the expected bearish context, gradually approaching the first required target of 150.70
On the technical side, the negative pressure of the simple moving averages and the apparent negativity features on the stochastic indicator.
Therefore, the bearish bias is preferred today, provided that breaking the psychological barrier of 151.00 opens the door for 150.70, a first target, and losses may extend later to visit 150.20.
Trading above the resistance level of 152.40 increases the possibility that the pair will recover again, so we will be waiting for 153.40.
| S1: 150.70 | R1: 152.40 |
| S2: 150.00 | R2: 153.40 |
| S3: 148.95 | R3: 154.10 |
