Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Pound Sterling maintains the bullish bias against the Japanese Yen, gradually approaching the required target of 153.70, recording a high of 153.48.
On the technical side, and by looking at the 60-minute chart, we find the 50-day moving average that supports the bullish curve, and this comes in conjunction with the positive signals coming from the RSI and its stability above the 50 mid-line.
Therefore, the bullish bias is more likely today, targeting the 153.75 first target, considering that breaching the mentioned level increases the chances of rising towards 154.10.
From below, the return of trading stability below 152.70 can thwart the suggested scenario, and we will witness a bearish bias, with its initial target of 152.00/151.80.
| S1: 152.70 | R1: 153.75 |
| S2: 152.00 | R2: 154.15 |
| S3: 151.70 | R3: 154.80 |
