GBP/JPY: Positive Side needs Assurances

The pair of Pound against the Yen witnessed a positive slope within the bullish path, as we expected yesterday, and it begins to attack the psychological barrier of 137.00.

Technically, we find that the 50-day moving average hold the price in addition to the pair building above the resistance-into-support around 135.90 / 136.00.

We think that the bullish chances remain intact, targeting 137.30 as a first target that might extend later towards 137.80.

A reminder that a break of 136.00 negates attempts to rise and forces the pair to retest the support level at 135.30. Caution: The level of risk may be high.

S1: 136.30	R1: 137.00
S2: 135.90	R2: 137.30
S3: 135.55	R3: 137.75