GBP/JPY: Trying to Rise

Positive attempts for GBP/JPY within the bullish corrective path published in the previous analysis, within a gradual ascent towards the target 151.80, only to record the highest 151.45.

Technically, and carefully considering the short time frames, we find the 50-day moving average trying to push the price to the upside, accompanied by the positivity of the relative strength index.

Therefore, we maintain our positive expectation, and we may witness a bullish bias in the coming hours, to retest 151.90/151.80 before attempts to decline again, bearing in mind that the daily trend is still bearish with a target of 149.00.

Note: The level of risk may be high.

S1: 149.40	R1: 151.25
S2: 148.60	R2: 152.25
S3: 147.60	R3: 153.05