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The pound showed a positive trade against the Japanese yen, maintaining a gradual rise to the upside, approaching a few points difference from goal of 140.60, posting a high of of 140.45.
Technically, we see the price is stable above 139.30, and the RSI indicator is stable above the middle line. From here, by steadily trading above the aforementioned support level, the bullish scenario remains valid and effective, knowing that trading above 140.30 is a catalyst that enhances the chances of an upside to visit 140.65, the first target, and 141.20 after it, respectively.
On the downside, confirmation of the breach of the 139.30 support level, will cancel the bullish trend, and we will witness a re-test of 138.50 before resuming the rise again.
| S1: 139.00 | R1: 140.55 |
| S2: 138.20 | R2: 141.25 |
| S3: 137.45 | R3: 142.10 |
