Open Demo Account
Home / Technical Analysis / Daily Technical Analysis / GBP/JPY: Faces Negative Pressure

GBP/JPY: Faces Negative Pressure

Adel 2 March, 2021 11:13 am Daily Technical Analysis, Technical Analysis

Negative trades highlight the moves of the pound against the Japanese yen after it successfully retested the 149.20 resistance level.

Technically, we tend to be negative in our trading, relying on trading remaining below the resistance level of 148.70, accompanied by the negativity of the stochastic indicator that started losing the bullish momentum.

Therefore, we are targeting 147.75 and 147.35, respectively. Surpassing the upside and rising again above 148.70 is capable of thwarting the bearish scenario and leading the pair to a bullish path with a target of 149.00 / 149.20.

S1: 147.75R1: 149.00    
S2: 147.35R2: 149.70    
S3: 146.60R3: 150.15      

Tags

Check Also

Oil faces negative pressure 14/11/2024

US crude oil futures have reached the official target outlined in our previous technical report, …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends