Despite the yen's attempt to overcome sterling, yet the 20 MA at 149.60 prevented the pair from continuing the downside move which is clear on the secondary image. As the support level for the symmetrical triangle remained intact we see that the direction is still likely to the upside for the rest of the day. Note that the resistance level at 150.75 has now declined towards 150.70 and is alongside the triangle's resistance.
The trading range for today is among key support at 144.10 and key resistance at 154.00.
The general trend is to the downside as far as 167.40 remains intact with target at 116.00.
|Recommendation||Our morning expectations remain intact|