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The British Pound declined against the Japanese Yen, canceling the positive outlook as we expected and touching the stop-loss order mentioned in the previous analysis at 152.70.
On the technical side, we find the pair settled below the resistance level of the psychological barrier 153.00, accompanied by the stochastic losing the bullish momentum.
Therefore, we tend to be negative, knowing that breaking 152.60 facilitates the mission required to visit 152.20/152.10, initial targets that may extend later to visit 151.70.
The return of trading stability again above 153.00, and most importantly 153.30 can thwart the bearish bias and lead the pair to an ascending path that begins with its targets around 153.95/154.00.
| S1: 152.20 | R1: 153.30 |
| S2: 151.70 | R2: 153.95 |
| S3: 151.10 | R3: 154.40 |
