GBP/JPY: Facing Selling Pressure

Negative trading returned to control the movements of the pound sterling against the Japanese yen after it succeeded in confirming the breach of the support level of 152.85, touching a low of 152.00.

On the technical side, we are inclined to the negativity, relying on the confirmation of the aforementioned support break and stochastic gaining more negative signs.

Today, we target 151.70, a first target, knowing that the stability of trading below it puts the price under intense negative pressure, and its second target is located around 151.30, and it may extend later to visit 150.60.

Returning again above 152.85 negates the bearish scenario, and we witness a limited bullish bias, with a target of 153.60.

S1: 151.70	R1: 152.84
S2: 151.30	R2: 153.60
S3: 150.60	R3: 154.00