Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound against its Japanese counterpart touched the first target published during the previous report, at 156.45, recording the highest level at 156.72.
Today, and carefully looking at the 60-minute chart, we notice that the pair continues to obtain a positive stimulus from the 50-day simple moving average, accompanied by stochastic attempts to eliminate the current negativity.
We may witness a bullish tendency during today’s trading to visit 157.00 a next price station, 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 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 |
