Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Negativity continues to dominate the pound sterling’s movements against its Japanese counterpart, hitting its lowest level at the end of last week’s trading around 149.20.
On the technical side today, we are inclined to the negativity, relying on the negative signals coming from the stochastic indicator and the stability of the intraday trading below the resistance level of 151.20.
Therefore, the bearish bias is likely today, targeting the 149.60 first target, and the bearish targets may extend towards 149.00. Therefore, activating the suggested bearish scenario requires trading to remain below 151.20. Note: the level of risk is high.
| S1: 149.55 | R1: 151.05 |
| S2: 148.65 | R2: 151.65 |
| S3: 148.00 | R3: 152.50 |
