Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Mixed trading dominated the pound’s movements against the Japanese yen within a not-good technical context, trying to build above the support level of 154.00.
On the technical side today, the pair’s intraday movements are witnessing a slight bullish tendency due to stabilizing above the psychological support level of 154.00, as we notice the stochastic is trying to provide positive signals.
Therefore, there is a possibility of an upward bias in the coming hours, targeting 155.00, the first target of its breach that contributes to consolidating the pair’s gains towards 155.30.
The return of trading stability below 154.00 leads us to complete the expected bearish scenario during the previous analysis, waiting for touching 153.00.
Note: CFD trading involves risks; all scenarios may occur.
| S1: 154.00 | R1: 155.00 |
| S2: 153.50 | R2: 155.30 |
| S3: 153.10 | R3: 155.85 |
