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Supports: 124.97; 124.04; 123.48
Outlook
Although RSI indicator shows neutral signal, the interim trend upwards, which started yesterday, continues, and today the GBP/JPY currency pair is about to test the 200-day SMA at 125.25, which might slow down the rally. In case it fails to stop the movement upwards, then the price might reach the weekly R1 at 125.68, which is likely to bring some bearish impulse. On the other hand, current supports are at 124.97, 124.04 and 123.48, and so far there are no signals that they might be breached.
Traders' sentiment
Traders at SWFX market have mixed feeling regarding the GBP/JPY currency couple, as 52% of traders hold bullish positions and 48% of traders hold bearish positions. The distribution of orders, however, shows some expectations of the bullish trend, since 65% of traders ordered to buy and only 35% ordered to sell the British Pound.