GBP/JPY Finds Support, Extends Gains

GBP/JPY traded positively after finding good support around 153.00. The technical picture is positive due to intraday trading stability above 153.40, always on the back of positive stimulus from the 50-day moving average, which cushions the price from the downside.

Therefore, we target 154.10 as the first target. Breaking through the mentioned level would extend the gains to the 154.40 level, the second target. Activating the suggested bullish scenario requires the intraday trading to remain above 153.40.