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Positive trading dominated the pound’s movements against its Japanese counterpart during the previous trading session, heading towards touching the official target to be achieved at 154.40, recording its highest level at 154.50.
Technically, with the pair still obtaining a positive stimulus from the 50-day moving average, in addition to the price above the support level of 153.60, therefore, the bullish bias is likely, targeting 154.80/154.70, a first target, knowing that the breach of the latter extends the gains, opening the door to visit 155.50.
Below 153.10 could thwart the bullish scenario entirely and puts the price under intense negative pressure, with its initial target of retesting 152.00.
| S1: 153.10 | R1: 154.80 |
| S2: 152.00 | R2: 155.50 |
| S3: 151.30 | R3: 156.60 |
