Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound against the Japanese yen reversed the bearish trend as we expected, to return to stability again above the resistance level of 152.00, recording the highest price of 152.36 during the morning session of the current session.
On the technical side today, and with the return of trading stability above 151.70, and most importantly 151.40, which is accompanied by the positive stimulus coming from the simple moving averages.
Therefore, the bullish bias is likely today, targeting 152.75, the first target, and its breach will extend the pair’s gains, so we will be waiting to touch 153.20/153.00.
Breaking 151.40 can thwart the expected bullish scenario and lead the price to trade negatively again, with the first target of 150.55 and extends to visit 150.10. Note: the level of risk may be high.
| S1: 151.40 | R1: 152.75 |
| S2: 150.55 | R2: 153.20 |
| S3: 150.10 | R3: 154.10 |
