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The pound’s current moves against the Japanese yen are seeing a slight bearish bias after finding a strong resistance level around 152.00.
On the technical side , the clear negative signs on Stochastic increase the possibility that we will witness a bearish bias in the coming hours.
On short time frames, we are targeting a re-test of 151.10/151.20 and breaking it will extend the pair’s losses to visit 150.50.
From the top, crossing to the upside and rising again above 152.20 negates the activation of the aforementioned bearish tendency, and we are witnessing a bullish trend, whose initial target is located around 152.65.
| S1: 151.10 | R1: 152.20 |
| S2: 150.50 | R2: 152.65 |
| S3: 150.10 | R3: 152.30 |
