Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound was dominated by positive trading against the yen, after it managed to establish strong support around 136.60.
Technically, we are biased towards the positivity based on the positive crossover signals coming from the stochastic indicator on the 240-minute time frame.
A bullish bias will be likely today, provided that the breach of 137.60 is confirmed, which enhences the chances of a bullish move towards 138.00 as an initial target, followed by 138.45.
On the downside, trading again below 139.60 will negate the suggested scenario and put the price under negative pressure, with an initial target of 136.35 that may extend later towards 135.90. Caution: The risk level may be high.
| S1: 137.95 | R1: 138.00 |
| S2: 136.35 | R2: 138.45 |
| S3: 135.90 | R3: 139.05 |
