GBP/JPY: Negative Pressure is in Place

USD/JPY movements witnessed a negative trading session within the expected proactive path, touching the first target of 152.00, approaching by a few points near the second target of 151.50, recording the lowest price at 151.70.

Technically, and with careful consideration on the 4-hour chart, we notice that the simple moving averages continue forming negative pressure on the pair, coinciding with the stability of the RSI below the 50 mid-line.

Therefore, the bearish bias is likely today, knowing that trading below 151.70 puts the price under strong negative pressure, targeting 150.00, the next official station, with daily trading remaining below 152.00.

Note: the level of risk is high

S1: 150.00	R1: 153.00
S2: 148.85	R2: 154.85
S3: 147.00	R3: 156.00