Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The pound declined against the yen within the expected bearish path, touching the first target we mentioned at 154.70, recording the lowest price at 154.65.
Technically, we are inclined to the negativity in our trading, depending on the bearish technical figure shown on the chart, in addition to the negative pressure coming from the 50-day moving average.
From here, and steadily trading below 156.00/155.85, the bearish scenario overlooks a valid and effective order, towards the second target of 154.00, considering that breaking the latter increases the strength of the daily bearish trend, paving the way to visit 153.50.
Note: Fed statement is due today and may cause volatility.
| S1: 154.60 | R1: 155.85 |
| S2: 154.00 | R2: 156.50 |
| S3: 153.40 | R3: 157.20 |
