GBP/JPY: Facing Strong Resistance Level

The British Pound failed to maintain the trading level above 151.00 psychological barrier resistance, as the current moves in the pair witness a bearish slope.

On the technical side, today we are biased negatively in our trading, depending on the negative signs coming from the stochastic indicator.

From here, with steady trading below 151.00 and the most important 151.30, the bearish bias is likely today, targeting 150.40 the first target, and 150.00 after it, respectively. Activating the bearish scenario depends on trading remaining below 151.30.

S1: 150.40	R1: 151.30
S2: 150.00	R2: 151.70
S3: 149.50	R3: 152.15