Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trading continues to dominate the movements of GBP/JPY within the suggested bullish path, touching our second awaited target at 157.20, recording the highest level at 157.38.
On the technical side, by looking at the 60-minute chart, we notice that the RSI continues to provide bullish momentum signals, in addition to stabilizing trading above the 156.70 support level.
We maintain our positive expectations, provided that 157.55 is breached, which increases the strength of the daily bullish trend, with the first target of 157.85. It may extend later to visit 158.20.
The pair’s decline below the 156.75 support level postpones the chances of a rise and puts the price under negative pressure targeting 156.30 and 156.00, respectively.
| S1: 156.75 | R1: 157.55 |
| S2: 156.30 | R2: 157.85 |
| S3: 156.00 | R3: 158.30 |
