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GBP/JPY continues the negative movements after it failed to maintain trading above the support level of 153.70 and recorded its lowest level during the last session at 152.90.
Technically, today, we tend to the negativity, relying on the price stability below the previously broken support level, which is now turned to the 153.70 resistance level, in addition to the pair below the 50-day moving average.
Therefore, we may witness a bearish bias in the coming hours, targeting 152.65 first target, and breaking it will put the pair under strong negative pressure, with its next target around 151.95.
Note: CFDs involve risks; all scenarios may occur.
| S1: 152.65 | R1: 154.25 |
| S2: 151.95 | R2: 155.15 |
| S3: 151.00 | R3: 155.85 |
