Noor Trends News, Technical Analysis, Educational Tools and Recommendations
During the previous analysis, GBP/JPY achieved the expected positive outlook, touching the first official target at 150.40, recording the highest at 150.50.
Technically, and by looking at the 60-minute chart, we find the 50-day moving average, which provides a positive motive, accompanied by the positivity of the stochastic indicator.
From here, and with stability intraday trading above the support level of 149.80, the bullish bias is likely today, targeting 150.75 first target, and its breach will increase the strength of the bullish bias we will be waiting for 151.10 and 151.70, respectively.
Declining below the support level of 149.70 will invalidate the suggested scenario. As a result, we will witness a negative trading session with targets around 149.10 and 148.75, respectively.
| S1: 149.70 | R1: 150.70 |
| S2: 149.10 | R2: 151.10 |
| S3: 148.75 | R3: 151.75 |
