Noor Trends News, Technical Analysis, Educational Tools and Recommendations
GBP/JPY managed to achieve the expected positive outlook yesterday, touching the first target around 154.80, to record its highest level at 154.82.
On the technical side today, the daily trend is still tilting to the upside due to the positive motive of the simple moving averages that continue to carry the price from below and the stability of the intraday trading above 153.80.
Therefore, the bullish bias is likely today, targeting 155.00/154.95, a first target, and breaching it contributes to consolidating the pair’s gains so that the path is open to visit 155.45.
The above-suggested scenario depends on the stability of trading above the strong support level 153.20, and breaking it will immediately stop the attempts to rise and put the price under negative pressure, targeting 152.70.
| S1: 153.80 | R1: 154.95 |
| S2: 153.20 | R2: 155.45 |
| S3: 152.70 | R3: 156.90 |
