GBP/JPY: Tends to be Negative

Negative trading is dominating the movements of the pound sterling against its Japanese counterpart within the expected bearish path, approaching a few points difference from the published target of 142.80, recording the lowest price of 142.95.

On the technical side, the pair started its daily trading by pressing the support level at 143.10 under negative pressure coming from the 50-day simple moving average, accompanied by the negativity of the stochastic indicator, which stimulates the continuation of the decline.

We tend to be negative in the coming hours, targeting 142.80 and then 142.50 in a row, and the decline may extend towards 142.10.

Trading again above 143.50 is able to negate the aforementioned downside attempts, and the pair will recover again with the first target of 144.00 and 144.45, respectively.

Note: The level of risk is high.

S1: 142.80	R1: 143.50
S2: 142.55	R2: 144.00
S3: 142.05	R3: 144.40