Noor Trends News, Technical Analysis, Educational Tools and Recommendations
GBP/JPY managed to achieve the positive outlook, as we expected yesterday, to touch the first target required to be achieved at 137.10, posting high 137.25.
Technically, we find that the 50-day moving average holds the price in addition to an intraday consolidation above breached resistance-into-support 135.90 / 136.00.
Therefore, we believe that the bullish chances are still intact, targeting 137.30. A reminder that a break of 136.00 negates attempts to rise and forces the pair to retest the support level at 135.30. Caution: The level of risk may be high.
| S1: 136.00 | R1: 137.30 |
| S2: 135.30 | R2: 137.90 |
| S3: 134.65 | R3: 138.60 |
