Noor Trends News, Technical Analysis, Educational Tools and Recommendations
sterling’s moves against the Japanese yen was dominated by positive trading towards the psychological barrier of 137.00, posting high at 137.33.
Technically speaking, the current moves are consolidating above 136.50, with the positive motive of the 50-day moving average continuing to hold the price.
We tend to be positive, but cautiously, knowing that trading above 137.30 facilitates the mission required to visit 137.70 and gains may extend later towards 138.10.
From below, stability below 136.50 will stop the bullish trend, and we will witness a re-test of 136.00, and then 135.30. Warning: the level of risk may be high today.
| S1: 136.05 | R1: 137.70 |
| S2: 135.05 | R2: 138.35 |
| S3: 134.40 | R3: 139.40 |
