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The positive trading is trying to dominate the sterling’s moves against the yen, after it succeeded in establishing a solid support around 136.60.
Technically, we are biased towards the positive, given the positive crossover signals from the stochastic indicator on the 240-minute time frame.
Therefore, the bullish bias is likely, provided that the breach of 137.60 is confirmed, which strengthens the chances of the upside towards 138.00.
On the downside, staying below 139.60 will negate the suggested scenario and put the price under negative pressure, with initial targets of 136.35 that may extend later towards 135.90. Caution: Risk may be high
| S1: 136.95 | R1: 138.00 |
| S2: 136.35 | R2: 138.45 |
| S3: 135.90 | R3: 139.05 |
