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GBP/JPY touched the mentioned bearish target during the previous report, at 156.00, recording the lowest price at 156.10.
On the technical side today, despite moving above the 50-day moving average, we tend to the negativity, relying on the stability of the daily trading below the main resistance level 157.60/157.50, in addition to the clear negative features on the stochastic indicator.
Therefore, it is possible to visit 156.30 and 156.00, considering that the confirmation of breaking 156.00 may put the price under intense negative pressure, with its target 155.50, as long as trading remains stable below the aforementioned resistance level.
Note: all scenarios are on the table.
| S1: 156.30 | R1: 157.60 |
| S2: 155.50 | R2: 158.20 |
| S3: 154.85 | R3: 158.90 |
