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Supports: 122.52; 122.41; 121.79
Outlook
The bearish trend, which started a couple of days ago, did not last for long, and today a significant bullish reaction takes place. At the moment, the GBP/JPY currency couple is testing the monthly PP at 122.90, which might change the prevailing tendency. In case it is breached, then the price might reach the 55-day SMA at 123.35, which in turn will probably bring some bearish impetus. Moreover, RSI indicator remains neutral, and current supports are at 122.52, 122.41 and 121.79, and they seem to be safe for now.
Traders' sentiment
Traders at SWFX market expect the British Pound to gain value against the Japanese Yen, since 74% of all traders hold bullish positions and only 26% of traders hold bearish positions. The situation with orders, however, is rather neutral, as 48% of traders ordered to buy and 52% ordered to sell the British Pound.