Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound against its Japanese counterpart was able to touch the first official target required to be achieved during the previous analysis, 152.00, recording the lowest of 151.99.
On the technical side, today, we prefer to maintain our short positions, relying on the negativity of the stochastic indicator, which comes in conjunction with the negative pressure coming from the 450-day moving average.
Therefore, the bearish tendency is likely today, complementing the second target of 151.70 and 151.30, respectively, knowing that breaking the latter puts the pair under negative pressure with a target of 150.75.
The return of trading stability above 152.40/152.45 can thwart any attempts to descend, and we are witnessing a bullish intraday move that targets 152.90.
| S1: 151.70 | R1: 152.45 |
| S2: 151.30 | R2: 152.90 |
| S3: 150.75 | R3: 153.20 |
