Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Negative trading dominated the pound’s movements against its Japanese counterpart within the expected bearish context during the previous report, to touch the first required target of 138.65, posting its lowest level at 138.42.
On the technical side today, despite the slight bearish bias, we believe that building a base above 138.10 / 138.00 is a positive factor, and we are finding attempts by Stochastic to get rid of the negativity and gradually gain bullish momentum.
Therefore, we may witness a slight bullish bias in the coming hours, targeting a re-test of 138.80.
Trading below 138.00 is able to negate the attempts to rise, and we may witness a decline with initial targets start around 137.50 and extend to 137.10. Warning: The level of risk may be high today
| S1: 138.00 | R1: 139.50 |
| S2: 137.50 | R2: 140.45 |
| S3: 136.50 | R3: 141.00 |
