Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The positive moves continued to dominate the Pound against the Japanese Yen, achieving the first bullish target published during the previous analysis at 142.85.
On the technical side today, with trading stabilizing above the support floor at 142.20, in addition to the pair continuing to get a positive motive from the 50-day simple moving average that meets around 142.20 and adds more strength to it.
Thus, a bullish bias is likely today targeting 142.9, and a breach of it will extend the pair’s gains, leaving the way straight towards 143.20.
Trading again below 142.20 is capable of aborting the bullish bias and putting the price under temporary negative pressure, targeting 141.70. Note: the level of risk may be high today.
| S1: 142.20 | R1: 142.90 |
| S2: 141.80 | R2: 143.20 |
| S3: 140.40 | R3: 143.60 |
