Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Quiet trading dominated the movements of the pound sterling against the Japanese yen, to find the pair a strong resistance level near the psychological barrier of 156.00.
On the technical side today, we tend to the negative side, but with caution, relying on stochastic entering the overbought phase, in addition to continuing trading below 156.00.
Therefore, the bearish bias is likely today, targeting 155.20/155.00 as a first target, knowing that the confirmation of the last break puts the price under negative pressure to re-test 154.50.
From above, a breach of 156.00 will lead the pair to visit 156.75, and gains may extend to visit 157.00.
Note: the risk level may be high today.
| S1: 154.50 | R1: 156.75 |
| S2: 153.10 | R2: 157.50 |
| S3: 152.30 | R3: 158.95 |
