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British Pound was on positive side against the Japanese Yen within the expected bullish path, touching the first target at 138.65, posting a high at 138.87.
Technically, with the pair consolidating on a support floor of 137.50, with the pair continuing to receive a positive stimulus from the 50-day moving average.
This encourages us to maintain the positive expectations targeting 138.75 as a first target, bearing in mind that trading above the aforementioned level is a catalyst that strengthens the chances of an upside towards 139.40 / 139.30.
Activation of the suggested scenario requires stability above 137.50, and breaking it will be able to negate attempts to rise and put the pair under negative pressure targeting 136.65 and 137.00, respectively.
| S1: 137.55 | R1: 138.75 |
| S2: 137.00 | R2: 139.40 |
| S3: 136.35 | R3: 140.00 |
