Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound retreated against the Japanese yen, a noticeable decline, nullifying the positive outlook, as we expected, touching the stop-loss order published in our analysis at 150.50, and as a reminder, we have indicated that any attempts to break the aforementioned level put the price under negative pressure targeting 149.75, so the pair recorded its lowest level at 149.87, compensating part of the long position losses.
On the technical side today, and with the pair’s success in confirming the breach of 150.50, in addition to the return of the 50-day moving average to pressure the price from the top.
Consequently, we may witness negative trading in the coming hours, its first target is 149.65 and 149.15 after it, respectively. Activating the bearish scenario depends on trading remaining below 150.60.
| S1: 149.65 | R1: 150.90 |
| S2: 149.15 | R2: 151.60 |
| S3: 148.45 | R3: 152.10 |
