GBP/JPY: Positivity Need Confirmations

Positive trading dominated the pound’s movements against its Japanese counterpart within the bullish leg published during the previous analysis, recording its highest level of 152.05.

On the technical side, we are positive in our trading, depending on the stability of trading above 151.30 and the most important of 151.10, which is accompanied by the positive motivation of the 50-day moving average.

Activating the bullish bias requires the breach of 152.00/152.20 to facilitate the task, to visit 152.65. Trading below 151.10 cancels the activation of the bullish scenario completely, and we may witness a bearish bias targeting 150.50 and 150.10.

Note: the level of risk may be high

S1: 151.30	R1: 152.00
S2: 150.90	R2: 152.30
S3: 150.50	R3: 152.65