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The pound against the Japanese yen hit its highest level during the previous trading session around the first target to be achieved, 142.30, to hit a high of 142.26.
Technically, despite the slight downside bias that the pair’s movements are witnessing on short time frames, we tend to be positive, relying on stochastic attempts to get rid of the current negativity in addition to stabilizing trading above 141.40.
We are targeting 142.20 as a first target, and a breach of it opens the way for the pair towards 142.60. Note: The level of risk is high.
| S1: 141.45 | R1: 142.20 |
| S2: 141.00 | R2: 142.60 |
| S3: 140.70 | R3: 143.00 |
