Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trades dominated the movements of GBP/JPY, benefiting from maintaining trading above the 151.10 support level.
Technically, we notice the stability of the intraday movements above the support level of 151.10, as we find the stochastic indicator started sending positive crossover signals on the 4-hour time frame, in addition to the positive motive for the 50-day moving average.
Therefore, we maintain our positive outlook, continuing towards the target to be achieved during the previous report at 152.30/152.20, and the gains may extend to visit 152.70.
Trading below 151.10 negates the attempts to rise and renews the chances of negative pressure on the pair to retest 150.65 and 150.20. Note: The risk level is high.
| S1: 151.00 | R1: 151.80 |
| S2: 150.65 | R2: 152.15 |
| S3: 150.20 | R3: 152.50 |
