GBP/JPY Posting Strong Gains

The British Pound jumped against its Japanese counterpart, surpassing the bullish targets required to be touched, mentioned in the previous analysis, 137.20, to touch a peak at 138.90.

Technically, looking at 240-minutes charts, we find that the pair is stable above 138.0 with the positive stimulus of the 50-day moving average in addition to the positive signals coming from the RSI on short intervals.

We will maintain our positive expectations, targeting 139.00 as a first target, followed by 139.60. Returning to trading below 138.00 negates the suggested scenario and puts the price under negative pressure, targeting a re-test of 137.20.

S1: 136.45	R1: 139.60
S2: 134.55	R2: 140.80
S3: 133.35	R3: 142.70