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Positive trading regained control of the pound’s movements against the Japanese yen after it managed in building a base on the support floor at 150.80.
On the technical side today, and with trading remaining above the aforementioned level, accompanied by the positive stimulus of the 50-day moving average, in addition to the positive crossover signals for Stochastic.
From here, we will maintain our positive outlook targeting 152.00, an initial official station, and a breach thereof will extend the pair’s gains, leaving the way straight towards 152.50.
From below, a break of 150.80 will negate the bullish scenario, and we may witness negative trading, its initial target 150.10/150.00.
| S1: 150.80 | R1: 152.00 |
| S2: 150.10 | R2: 152.50 |
| S3: 149.60 | R3: 153.20 |
