The Japanese yen gained traction after the unemployment rate fell to 2.6% in March. The pound falls back in search of the next support as the yen recoups losses across the board.
The RSI’s double top in the overbought area was an indication of exhaustion past the key resistance at 152.00. A breakout below 151.00 would confirm the bearish MA cross.
The next level to find potential buying interest would be around 150.10. On the upside, the long side will need to lift 152.10 to resume the U-turn.
