Forex: GBP/JPY extends decline to 151.25

FXstreet.com (San Francisco) - After rising around 120 pips in the European session from the 151.00 area to reach the intra-day high at 152.25, the GBP/JPY was rejected at this level and currently the pair is extending its decline to trade back at 151.25.

Currently the GBP/JPY is trading at 151.45, almost flat on the day but the pair is slightly bearish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are bearish while the MACD and the Stochastic are neutral in the 15-minute chart.

Below the 151.25, next supports are at 150.50 and 150.00. On the upside, resistances are at 152.25, 152.55 and 153.70.