Noor Trends News, Technical Analysis, Educational Tools and Recommendations
GBP/JPY failed to stabilize for a long time above the psychological barrier resistance of 152.00, to record the highest level of 152.16, whereby the current moves witnessed a bearish bias on the short time frames.
Today’s technical outlook indicates the possibility of further decline due to the clear negative signs on stochastic, in addition to trading below 152.00/151.80.
Therefore, we are targeting 150.70 as a first target, taking into consideration that breaking the mentioned level will extend the pair’s losses, paving the way towards 150.10.
Trading stability below 152.10 cancel the bearish scenario, and we will witness a strong bullish path that targets retesting 152.80 and 153.30, respectively.
| S1: 150.70 | R1: 152.05 |
| S2: 150.05 | R2: 152.80 |
| S3: 149.30 | R3: 153.40 |
