Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The negative trades regained control over the movements of the British pound against the Japanese yen after it hit the resistance level of 154.75 to start its daily trading on a bearish slope.
On the technical side today, and carefully looking at the 60-minute chart, we notice the clear negative signs on the stochastic, in addition to the RSI gaining bearish momentum on the short time frames.
Therefore, we tend to the negativity, targeting the 153.50 first target, knowing that breaking it puts the price under negative pressure. Consequently, we will be waiting for 153.00 next official station, as long as the daily trading is stable below 154.60.
Note: CFD trading involves risks; all scenarios may occur.
| S1: 153.50 | R1: 154.60 |
| S2: 153.00 | R2: 155.20 |
| S3: 152.40 | R3: 155.70 |
