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GBP/JPY managed to achieve remarkable gains during the previous trading session, reaching a high of 153.25.
On the technical side today, and by looking at charts, we find Stochastic continues to provide positive signals, accompanied by the positive motive coming from the 50-day moving average.
From here, and with stability above 152.20, the bullish bias is likely today, targeting 153.40 first target, then 153.90 next station.
Trading again, and the stability of the pair’s exchange rate below the support level of 152.20, remains to activate the bullish scenario completely and increases the possibility of touching 151.50.
| S1: 152.20 | R1: 153.40 |
| S2: 151.50 | R2: 154.00 |
| S3: 150.90 | R3: 154.75 |
