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The pound sterling against the Japanese yen started its morning trading for the current session with clear negativity after hitting the resistance level of 142.30.
On the technical side today, and with the continuation of the negative pressure of the 50-day moving average that meets around 142.00, in addition to the clear negative signs on the RSI and its stability below the 50 midline.
Therefore, the bearish bias is likely today, targeting 141.40 and then 141.00 respectively, and the decline may extend towards 140.70.
From the top, the return of trading to stability above 142.10 will stop the suggested bearish scenario and lead the pair to the upside path again with the target of 142.50 and gains may extend later towards 142.80.
| S1: 141.40 | R1: 142.10 |
| S2: 141.00 | R2: 142.55 |
| S3: 140.70 | R3: 142.80 |
