Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound’s movements against the Japanese yen witnessed a bullish tendency within the positive context, as we expected, benefiting from building on the support floor of 141.20.
On the technical side today, we tend to be positive in our trading, depending on the pair’s stability above the aforementioned support, which is accompanied by the positive motivation of the 50-day moving average.
We are targeting 142.00 as a first target, and a breach of it will enhance the chances of a rally towards 142.40. Activating the bullish scenario requires stability above 141.20, knowing that trading below it delays the chances of an upside, and we witness a re-test of 140.70, and then 140.10.
Note: The speech of US President-elect “Joe Biden” is due today and that may have a significant impact on the market movement.
| S1: 140.05 | R1: 142.05 |
| S2: 139.40 | R2: 142.40 |
| S3: 140.00 | R3: 143.10 |
