Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Negative trading dominated the pound’s movements against the Japanese Yen, as we expected, touching the target to be achieved mentioned in the previous analysis, at 138.10, recording 138.20, its lowest price during the previous session.
On the technical side, today the current moves are witnessing a slight upward slope, as a result of stability above the support floor of 138.00, and we find the RSI indicator started to provide positive signs over short time periods.
Consequently, we may witness a slight bullish bias in the coming hours, aiming to re-test 139.50 before retreating again.
Note: the slight bullish tendency does not contradict the daily bearish trend, which targets around 137.20 once the support level of 138.00 is breached.
Note: the level of risk may be high today.
| S1: 138.00 | R1: 139.50 |
| S2: 137.35 | R2: 140.40 |
| S3: 136.40 | R3: 141.05 |
