Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Negative trading dominated the movements of the pound sterling against the Japanese yen at the end of last week’s trading, touching the first target at 149.10, recording the lowest of 149.16.
On the technical side, there are positive crossover signs that started appearing on stochastic, in addition to stabilizing intraday trading above the psychological support level of 149.00.
We may witness a slight bullish slope, which was defied by a retest of 149.90/150.00, knowing that confirmation of the breach of 150.20 is a catalyst that increases the probability of touching 150.60.
Warning: the slight bullish bias does not contradict the general bearish trend, with official targets around 148.50 once 149.10 is broken.
| S1: 149.20 | R1: 149.90 |
| S2: 148.80 | R2: 150.25 |
| S3: 148.45 | R3: 150.65 |
