Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound declined against the Japanese yen, remarkably within the expected bearish path, surpassing the second target required, at 154.40, to record as low as 153.12.
On the technical side, the bearish trend is still more likely today due to the continuation of negative pressure from the simple moving averages and the stability of trading below the resistance level of the psychological barrier 154.00.
Therefore, the bearish scenario remains valid and effective, targeting 152.90/153.10, knowing that breaking the latter will extend the pair’s losses so that we will be waiting for 151.10.
Only from above, trading stability returns above 154.00, delaying the chances of a decline, and we may witness a temporary ascending path that aims to retest 155.00 and 155.40 before declining again.
| S1: 152.30 | R1: 155.40 |
| S2: 151.10 | R2: 157.30 |
| S3: 149.10 | R3: 158.50 |
