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The pound retreated against its Japanese counterpart, a noticeable decline within the expected bearish path, in which we relied on the stability of 151.10 tradings.
Technically speaking, we are biased negatively depending on the negative signs coming from the stochastic indicator, in addition to trading below 151.00.
We are targeting 150.00, a first target, knowing that confirming its breach will extend the pair’s losses, so that we are waiting for 149.20 for the next stop. Bearish trend depends on the price remaining below 151.10.
| S1: 150.00 | R1: 150.80 |
| S2: 149.70 | R2: 151.30 |
| S3: 149.20 | R3: 151.70 |
