GBP/JPY Needs Careful Consideration

GBP/JPT was able to touch the official target station during the previous analysis at 153.40, to find a strong resistance level around which forced it to trade negatively again.

On the technical side, we find a contradiction in the technical signals between the negative pressure coming from the 50-day moving average and the positivity features that began to appear on the stochastic indicator.

We adhere to the intraday neutrality during the coming hours until the direction becomes clearer more precisely, to be in front of one of the following scenarios: Activating short positions requires breaking 151.15 to target 150.50, and then 150.00 next stop.

Reactivating long positions requires confirmation of the breach of 153.00, which leads the pair to the upside path again with an initial target of 154.00 / 154.10.

Note: The level of risk is high.

S1: 151.15	R1: 152.95
S2: 150.50	R2: 154.10
S3: 149.40	R3: 154.70