Noor Trends News, Technical Analysis, Educational Tools and Recommendations
GBP/JPY succeeded in achieving the expected positive outlook, touching the second target to be achieved at 152.10, recording the highest level at 152.16.
On the technical side, the intraday trading stability is above 151.50, and in general above 151.10, which supports the possibility of continuing the rise accompanied by the positive motive of the 50-day moving average that holds the price from below.
Therefore, the bullish bias is likely today, targeting 152.55/152.50 the first target, knowing that its breach is a catalyst that enhances the chances of rising to visit the psychological level resistance 153.00.
Trading again below 151.10 can thwart the suggested bullish scenario and put the price under intense negative pressure, with its initial target located at retesting 150.20.
| S1: 151.10 | R1: 152.55 |
| S2: 150.20 | R2: 153.00 |
| S3: 149.70 | R3: 153.90 |
