Noor Trends News, Technical Analysis, Educational Tools and Recommendations
GBP/JPY fell significantly during the previous trading session, touching the extended target at 149.50, posting the lowest price of 149.20.
On the technical side today, we believe that the current positive movements are temporary, and we find that Stochastic has started to lose bullish momentum.
Therefore, the bearish bias is seen as long as trading remains below the resistance level of 150.40/150.30, targeting 148.90, a first target, and 148.30 a second target. Therefore, activating the suggested bearish scenario depends on trading remaining below 150.40. Note: the risk level may be high today.
| S1: 148.90 | R1: 150.95 |
| S2: 148.00 | R2: 152.20 |
| S3: 146.90 | R3: 153.00 |
