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The pound sterling started its daily trading against its Japanese counterpart positively, benefiting from the support level of 140.40, as the current moves witnessed stability around the highest level during the early in early session at 141.10.
On the technical side, we are biased towards the positive side, relying on the RSI’s attempts to obtain bullish momentum over the short time frames.
We target 141.30 as a first target, bearing in mind that confirming the breach of the aforementioned level is a catalyst that enhances the chances of an upside move towards 141.70.
The suggested scenario is expected once the pair’s ability to hold above 140.40.
| S1: 140.60 | R1: 141.30 |
| S2: 140.10 | R2: 141.70 |
| S3: 139.80 | R3: 142.05 |
