Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trades dominated the movements of the pound sterling against the Japanese yen within the expected bullish context, approaching our target of 155.70, to record a high of 155.50.
On the technical side, we tend to be positive, but with caution, relying on the stability of trading above the support level of 154.60, accompanied by attempts by stochastic to gain additional momentum.
Therefore, the bullish bias is likely today, with the first target of 155.60, and then 156.10. Trading below 154.60 is able to negate the bullish scenario, and we may witness negative trades, with its initial target located around 154.10 and extending later to visit 153.70.
| S1: 154.60 | R1: 155.60 |
| S2: 154.10 | R2: 156.10 |
| S3: 153.70 | R3: 156.55 |
