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Mixed trades dominated the pound’s movements against its Japanese counterpart, but moves tended to be negative after the pair found a resistance level around 147.50.
On the technical side, we tend to be negative, relying on the loss of the bullish momentum stochastic on short time frames. We aim to re-test 146.50 a first target, bearing in mind that breaking the aforementioned level puts the price under strong negative pressure, opening the way to a visit of 145.90.
The return of trading stability and price stability above 147.50 and the most important 147.65 is able to cancel the bearish bias and lead the pair to an upward intraday path targeting 148.20.
Note: The level of risk may be high today.
| S1: 146.50 | R1: 147.65 |
| S2: 145.90 | R2: 148.20 |
| S3: 145.40 | R3: 148.75 |
