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Clear negative trades dominate the pound against the Japanese yen within the bearish correction scenario referred to during the last analysis, touching the required target 148.50, to record its lowest price during early trading for the current session 148.03.
On the technical side, we will maintain our negative outlook, relying on the clear negative crossover signals on the stochastic indicator. Today we target 147.40 / 147.35, a first target that may be extended later to visit 146.50.
Only from the top, to move upwards and stabilize trading again above the previously broken support, now converted to the 148.70 resistance level, negates the bearish slide and leads the pair to an upward intraday path with a target of 149.70 before resuming the decline again.
| S1: 147.35 | R1: 149.75 |
| S2: 146.50 | R2: 151.30 |
| S3: 145.00 | R3: 152.20 |
