Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Strong negative trading dominated the movements of the pound sterling against the Japanese yen, nullifying the expected positive outlook during the previous analysis, recording a low of 148.96.
On the technical side today, the pair failed to maintain the trading level above 149.70, accompanied by the negativity of Stochastic on the short time intervals.
Therefore, the bearish scenario will remain valid and effective, targeting 148.50, the first target, and breaking it increases the strength of the daily bearish trend to open the door for 147.85.
Activating the expected bearish scenario requires trading to remain below the previously broken support level-into-resistance level of 149.70.
| S1: 148.50 | R1: 150.35 |
| S2: 147.85 | R2: 151.45 |
| S3: 146.75 | R3: 152.10 |
