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The British Pound against the Japanese Yen found a solid support floor around 136.80, to witness the current moves, an upward slope approaching a re-test of 138.80 resistance.
On the technical side, and by looking at the 60-minute chart, we find the 50-day moving average supports the upside. This comes in conjunction with the positive signs coming from the stochastic indicator.
From here, with steady trading above 138.00, the possibility that we will witness positive movements in the coming hours, targeting 139.50.
Activating the bullish scenario requires stability above 138.00, and breaking it is able to completely negate the bullish attempts, and we may witness negative trading, its initial target is 137.20.
Note: the level of risk is high and not proportional to the expected return.
| S1: 137.25 | R1: 139.50 |
| S2: 135.90 | R2: 140.40 |
| S3: 135.00 | R3: 141.75 |
