Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trading dominated the British Pound against its Japanese counterpart, touching the first target to be achieved at 137.30, posting session high at 137.65.
On the technical side with the pair’s intraday stability above the psychological barrier of 137.00, which is accompanied by the continued positive motive for the pair from the 50-day simple moving average that hold the price.
This encourages us to maintain our positive view, noting that trading above 137.65 extends the pair’s gains, so that we are waiting for a first target of 138.00, and a breach of it accelerates and confirms the strength of the bullish trend to visit 138.40.
The Bullish scenario depends on trading above 137.00, and breaking it will negate the rally and put the price under temporary negative pressure, targeting a re-test of 136.00.
Warning: the level of risk may be high today.
| S1: 136.75 | R1: 137.95 |
| S2: 136.00 | R2: 138.40 |
| S3: 135.55 | R3: 139.20 |
