Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British Pound against the Japanese Yen failed to confirm the breach of the strong resistance level published during the previous analysis, located around 137.65.
On the technical side, the current movements of the pair are witnessing a bearish tendency due to the negative pressure of the 50-day moving average, which meets around the level of 137.20 and adds more strength to it.
We tend to be negative in the coming hours, targeting 136.35 as an inital target, and then 136.00, bearing in mind that confirming a break of 136.00 extends the pair’s losses and open doors to 135.50.
Trading once again above 137.20 delays the chances of a reversal and leads the pair to regain the bullish path with the aim of re-choosing 137.65 and may extend later to 138.00.
| S1: 136.35 | R1: 137.30 |
| S2: 136.00 | R2: 137.90 |
| S3: 135.45 | R3: 138.25 |
