Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The GBPJPY pair saw positive moves, reaching the resistance level of 151.00, a psychological barrier.
On the technical side today, we ten to the negativity in our trading, relying on the stability of below 151.00, in addition to stochastic losing the bullish momentum gradually.
Therefore, the bearish bias is likely today. Targeting a retest of 150.10/150.00, a first target, and breaking the mentioned level will force the price to continue falling, with the second target of 149.60 initially.
Activating the bearish bias requires trading to remain below 151.10, and breaching it will lead the pair to an ascending path, targeting 151.50, and it may extend later towards 151.80.
Note: the level of risk may be high, and the deal is not of high quality.
| S1: 150.10 | R1: 151.05 |
| S2: 149.60 | R2: 151.50 |
| S3: 149.15 | R3: 152.00 |
