Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The gradual rise of GBP/JPY within an ascending path to the upside, approaching by a few points from the official station 157.00, to record the highest level at 156.85.
Today, by looking at the 60-minute chart, we notice that the pair continues to obtain positive motive from the 50-day SMA, accompanied by the RSI’s attempts to obtain more bullish momentum.
We may witness a bullish tendency during today’s trading to visit 157.00 the next price, knowing that the confirmation of its breach may be a motivating factor that enhances the chances of rising to visit 157.40 as long as the price is stable above 156.10 and, most importantly 155.80.
The breach below the support level of 155.80 might put the price under temporary satisfying pressure to retest 155.15.
| S1: 155.80 | R1: 157.00 |
| S2: 155.15 | R2: 157.40 |
| S3: 154.70 | R3: 158.10 |
