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The pound sterling against the Japanese yen managed to touch the first target located at 147.40, recording the lowest price of 147.40.
Technically, the pair found a good support floor around the aforementioned target, and with a closer look at the 60-minute chart, we find that positive features began to appear on the stochastic indicator.
The possibility that we will witness a bullish tendency in the coming hours is something that we target to re-test 149.70 before retreating again. Attempts to break 148.50 negates the bullish slight bias and leads the pair to the official downside path with the goal of 147.80 that extends to 147.40.
| S1: 147.80 | R1: 149.70 |
| S2: 146.65 | R2: 150.40 |
| S3: 145.90 | R3: 151.55 |
