Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Negative trading continues to dominate the movements of GBP/JPY, approaching by a few points to the first bearish target published in the previous analysis, at 150.70, recording the lowest price of 150.85.
Technically, the intraday trading stability is above the 151.20 support level, accompanied by the attempts of the stochastic indicator to obtain additional momentum, which increases the possibility of witnessing a bullish bias in the upcoming hours.
We are targeting a retest of 151.90/152.00, a first target, and gains may extend later towards 152.30. However, trading below 151.10 puts the price under negative pressure again, to be waiting for 150.60.
Warning: The level of risk is high.
| S1: 151.10 | R1: 152.00 |
| S2: 150.60 | R2: 152.35 |
| S3: 150.25 | R3: 152.80 |
