Noor Trends News, Technical Analysis, Educational Tools and Recommendations
GBP/JPY is trading deep in the negative territory after successfully breaking the psychological support level of 150.00. It then started pressuring on the 149.50 level during the early trading of the current session.
Technically speaking, today, we are biased negatively based on the apparent negativity features on the stochastic indicator and the negative pressure coming from the simple moving averages.
Therefore, 149.10/149.00 is the first target, bearing in mind that the breach of the targeted level accelerates the daily bearish trend, seeing 148.55 as a next stop.
Firm trading below the 150.00 previously broken support, which has now turned into resistance, is necessary to activate the bearish scenario suggested above.
| S1: 149.10 | R1: 150.55 |
| S2: 148.55 | R2: 151.45 |
| S3: 147.65 | R3: 152.00 |
