GBP/JPY: Starts Positively

Positive trading returned to control the movements of GBP/JPY, canceling the expected negative outlook during the previous analysis after it succeeded in breaching the resistance level of 150.70.

Technically, we tend to the positivity, relying on the clear positive signs on stochastic and the stability of the RSI above the mid-line 50.

Therefore, the bullish bias is likely during the day, targeting 151.70, the first target, considering that its breach is a catalyst that facilitates the consolidation of the pair’s gains to visit 152.30.

Trading stability returns below the support level of 149.80, which will stop the expected bullish bias immediately, and the pair will return to the bearish track again, with targets starting at 148.60.

S1: 149.80	R1: 151.70
S2: 148.60	R2: 152.35
S3: 147.95	R3: 153.60