Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound fell against the Japanese yen within the bearish bias published in yesterday’s technical report, touching the first target required to be achieved at 161.00, recording its lowest level at 160.80.
Technically, we tend to the negativity in our trading, relying on the clear negative crossover on the simple moving averages and the negative signals coming from the stochastic indicator.
From here, with steady daily trading below 162.00, the bearish scenario remains the most likely today, targeting 160.55 first target, then 159.90 next station, as long as the pair is stable below 162.00 resistance.
Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.
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