The bearish MACD suggests further downside to the 150.00 threshold.
200 DMA, the descending trend line since February also challenges buyers.
GBP/JPY has now conquered the support confluence of 152.00, but resistance remained at 152.00 on Monday during the mid-Asian session.
However, bearish MACD conditions and continued trading below the 61.8% Fibonacci Retracement (Fibo. The upside potential of July-October 2021, along with the three-month-old ascending trends line, keep sellers optimistic.
However, tops at 151.10 in December 2021 may provide an intermediate stop during the south-run to 150.00 round figure.
The pair sellers will have to work hard to find lows in September and December 2021 around 149.00, before they can direct them to the bottom of 2021 at 148.45.
Alternativly, recovery moves are still elusive below the confluence of 152.20 resistance.
Short-term GBP/JPY buyers could be attracted to 153.00 and the 10-DMA levels around 154.15, before they are directed to the descending trendline from February near 154.75.
