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The British pound fell against the Japanese yen yesterday, reaching a low of 136.96.
On the technical side, and with the pair’s success in breaking the support level 139.10, which is now converted into a resistance level, accompanied by the continued negative pressure coming from the simple moving averages.
From here, the bearish bias is likely today, targeting 137.70 the first target, and then 137.20 the next official station. Trading again above 139.20, delaying the retreat and witnessing a re-test of 140.00.
Warning: The level of risk is high.
| S1: 137.20 | R1: 140.00 |
| S2: 135.65 | R2: 141.35 |
| S3: 134.35 | R3: 142.80 |
