- GBP / JPY continues to face stiff resistance at 153.30 / 50.
- The bullish bias is still in place, but the price is close to critical short-term support.
GBP / JPY is moving on a slightly bullish bias, facing strong resistance around 153.30 / 50. The bullish outlook is being supported by the critical area around 152.85 / 90, which contains the 21 SMA and recent lows.
A consolidation below 152.80 should point to further losses for the pound, with the next support seen at 152.30. The drop below 152.80 should negate the bullish outlook.
On the upside, a break above 153.50 should add more strength to the pound, leaving the way open at 154.00. The next resistance is seen at 154.45.
Technical indicators are biased to the upside, but the recent consolidation of GBP / JPY around 153.00.
4 hour chart
Technical levels
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