Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trading dominated the pound’s movements against the Japanese yen within the ascending path published in the previous analysis, touching the target price station at 155.45, recording the highest price of 155.45.
On the technical side, the pair’s current movements are witnessing a bullish bias, building on 154.70 support level, accompanied by attempts to obtain a positive stimulus from the 50-day moving average.
There is a possibility of a bullish bias, considering that the breach of 155.45 may consolidate the gains towards 155.80 and 156.10, respectively as long as the price is stable above 154.70.
Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.
| S1: 154.80 | R1: 155.45 |
| S2: 154.45 | R2: 155.80 |
| S3: 154.10 | R3: 156.20 |
