- GBP / JPY resumes the uptrend above 152.00.
- Pricehits cycle high at 153.07 then retrace modestly, bullish momentum intact.
The GBP/JPY it rose to 153.07, reaching the highest level since 2018. After a downward correction, it resumed upward. The bullish tone remains intact and further gains appear likely. You need to break out of the 153.00 zone. The next barrier emerges at 153.70 / 75.
A drop below 152.40 would ease the positive momentum of the pound. Critical support is now moving at 152.00 – a round number, 21 SMA on the four-hour chart, and an uptrend line.
A firm break below 152.00 would suggest more losses to come with an immediate target at 151.45. Below the next support is at 150.50.
4 hour chart
Technical levels
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