Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Narrow range sideways trading dominated the pound’s movement against the Japanese yen, after finding a strong resistance level near the psychological barrier of 154.00.
On the technical side, today, we tend to be negative over the coming hours, relying on the gradually losing bullish momentum stochastic.
From here, we aim to retest 153.00, the first target, bearing in mind that breaking the aforementioned level puts the price under strong negative pressure, its next target of 152.65.
From the top, to break to the upside and rise again above 154.00, is able to abort the suggested bearish scenario, and the pair will recover again with targets starting at 154.40 and extending to 154.80.
| S1: 153.10 | R1: 154.00 |
| S2: 152.65 | R2: 154.40 |
| S3: 152.10 | R3: 154.80 |
