GBP/JPY: Touches The Required Target

GBP/JPY succeeded in achieving the official target to be touched at 149.00, recording its lowest level at 149.02, to the bullish rebound once again, benefiting from building a base on the support level represented in the last target.

Technically, by looking at the 60-minute chart, we find that the RSI is trying to obtain positive signals. This comes in conjunction with the stability of trading above the 50-day moving average, which meets around 149.50/149.40 and adds more strength to it.

Therefore, there is a possibility of a bullish bias in the coming hours, targeting 150.20 first target and then 150.55, knowing that breaching the latter is a catalyst that enhances the chances of visiting 151.20.

S1: 149.25	R1: 150.20
S2: 148.65	R2: 150.55
S3: 148.30	R3: 151.20