Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trading dominated the pound’s movements against its Japanese counterpart within the expected bullish path during the previous analysis, touching the required price station at 156.10, recording the highest of 156.50.
Technically, and as seen on the 60-minute chart, there is a possibility to continue rising with the price stability above the 155.45 support level, which is accompanied by the positive stimulus of the 50-day moving average.
Therefore, the bullish bias still intact to visit 156.45, and confirming its breach may make it easier to visit the 157.00 areas as a next target as long as the price is stable above the 155.45 support level.
The decline below the mentioned support level might put the price under negative pressure, its initial target to retest 155.00 and 154.60 respectively.
| S1: 155.45 | R1: 156.45 |
| S2: 154.95 | R2: 157.00 |
| S3: 154.40 | R3: 157.50 |
