Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound against the Japanese yen managed to touch the first target required to be achieved during the previous analysis, located at 149.65, to hit its lowest level at 149.60.
On the technical side, we tend to be negative, relying on the confirmation of the pair breaking the support level of 150.70, which is now converted into a resistance level according to the concept of role-swapping, in addition to the clear negative features on Stochastic.
Therefore, we target 149.40, and then 148.80 official stations expected. Trading above 150.75 will immediately stop the bearish bias, and we may witness a temporary bullish tendency aiming to re-test 151.50.
| S1: 149.40 | R1: 150.75 |
| S2: 148.80 | R2: 151.50 |
| S3: 148.10 | R3: 152.10 |
