GBP/JPY: trying to recover 30/6/2022

GBP/JPY was able to approach by a few points from the target published during the last analysis at 165.30, recording its lowest level at 165.40.

On the technical side, we tend to be positive but cautiously, relying on the clear positivity features on stochastic, in addition to the intraday pivot above the support floor of 164.85.

We may witness a bullish bias in the coming hours, with its initial target of 166.20, knowing that its breach is a catalyst that enhances the chances of touching 166.75, the next awaited station, as long as the price is stable above 164.85.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 165.30	R1: 166.20
S2: 164.85	R2: 166.75
S3: 164.30	R3: 167.15