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Negative trading dominates pound’s movements against its Japanese counterpart, after finding strong resistance near the psychological level of 140.00.
On the technical side, today the current movements are witnessing a bearish bias, due to the pressure of the clear negative crossover signals on the stochastic indicator, in addition to the intraday trading remaining below 139.50 resistance.
The expected bias during the coming hours is a bearish trend that targets a retest of 138.65, a first target, knowing that the breach of the aforementioned level extends the losses, so that we are waiting for 138.30 for as a next stop.
On the upside, the stability of trading once again above 139.55 / 139.60 negates the suggested scenario and leads the pair to the official bullish path, with initial targets starting at 140.20 and may extend to 140.50.
Warning: The level of risk may be high today.
| S1: 138.65 | R1: 139.55 |
| S2: 138.30 | R2: 140.15 |
| S3: 137.70 | R3: 140.50 |
