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The British pound is showing positive moves against the Japanese yen, benefiting from stability above 138.50 support.
On the technical side, and with a closer look at the 4-hour chart, we find that the stochastic indicator began to gradually lose the bullish momentum, and the simple moving averages are still pressing the price on the 4-hour time frame.
We will maintain our negative expectations as daily trading remains below the resistance level of 140.00 targetings 138.70 as a first target, and breaking it puts the price under negative pressure to continue declining to visit 138.10.
A reminder that activating the bearish scenario requires stability below 140.00.
Note: the level of risk is high and not
| S1: 138.70 | R1: 139.70 |
| S2: 138.05 | R2: 140.00 |
| S3: 137.70 | R3: 140.65 |
