Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trading dominated the pound’s movements against its Japanese counterpart, benefiting from the 155.40 support level, to witness the current movements’ bullish bias that targeted a retest of 155.80.
On the technical side today, with the pair continuing to obtain positive stimulus from the 50-day moving average, in addition to the stability of trading above 155.40 and in general above 155.00.
The bullish bias is likely today, targeting 156.75, a first target, and gains may extend later to visit 157.20. Trading below 155.00 is able to thwart the attempts to rise and lead the price within the downside moves, the initial target of 153.10.
| S1: 154.50 | R1: 156.75 |
| S2: 153.10 | R2: 157.50 |
| S3: 152.30 | R3: 158.95 |
