Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound maintained positive stability against its Japanese counterpart, after finding a good support floor near the level of 151.20.
On the technical side today, and with a closer look at the chart, we find the 50-day moving average is still providing a positive motive, accompanied by the stability of intraday trading above the support level of 151.60 and the most important 151.40.
Consequently, we will maintain our positive outlook targeting 152.40 / 152.45 as a first target, and a breach of it extends the pair’s gains so that 152.85 will be the next awaited station.
A break of 151.40 will negate the attempts to rise, and we may witness a bearish bias targeting 150.80, and then 150.40, respectively.
Note: The level of risk may be high today.
| S1: 151.40 | R1: 152.45 |
| S2: 150.80 | R2: 152.85 |
| S3: 150.40 | R3: 153.40 |
