Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound jumped against the Japanese yen as we expected during the previous analysis, touching the official target station at 152.60, to hit a high of 154.01.
On the technical side today, with the pair succeeding in surpassing the resistance level 153.30 and the most important 152.80, which has now turned into a support level, in addition to the positive motive of the 50-day moving average.
Therefore, the bullish bias is likely today targeting 154.15, the first target, and breaching it will extend the pair’s gains towards 154.80.
Note: we may witness a bearish bias targeting a re-test of 152.80 before attempting to rise again.
Note: the indicated bearish trend does not contradict the daily bullish trend.
| S1: 152.70 | R1: 154.15 |
| S2: 151.95 | R2: 154.80 |
| S3: 151.10 | R3: 155.55 |
