Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British Pound was trading negatively against the Japanese Yen after failing to consolidate above 137.00.
Technically, we tend to be negative depending on the negative pressure coming from the 50-day moving average, in addition to intraday trading below 136.30 and the most important 136.70.
Therefore, the bearish bias will be likely today, targeting 135.15 as a first target, noting that the breach of the aforementioned level extends the pair’s losses towards 134.65.
Activating the suggested bearish scenario depends on trading remaining below 136.70, and returning the price above it delays the chances of a reversal and leads the pair to an upward intraday path aimed at re-testing 137.40. Warning: the level of risk may be high
| S1: 135.15 | R1: 136.70 |
| S2: 134.65 | R2: 137.70 |
| S3: 133.65 | R3: 138.20 |
