The British Pound Continues to Decline Against The Yen

The British pound incurred strong losses against the Japanese yen, as we expected, touching the official target station 150.60. On the technical side today, the bearish trend is still the most preferred, based on the breach of the support level 152.00/152.10, which is now turned into a resistance level.

Therefore, the bearish scenario will remain valid and effective, targeting 150.60, bearing in mind that breaking it will increase and accelerate the strength of the downside trend with a target of 149.60.

The return of trading stability again above 152.10 increases the possibility of touching 152.75.

Note: Stochastic is trying to provide positive signals.

S1: 150.60	R1: 152.75
S2: 149.60	R2: 153.80
S3: 148.50	R3: 154.75