Pound / Yen does not attempt to break above Ofer near Y149.10/00, and to test the main series of orders to sell around Y149.30, break above that would signal a further offensive. However, bears still have a decent response, and dealers warned that the next evidence of the inability to overcome the resistance of the pound in this area may again compel market participants to pay attention to the bottom of the range of recent days, but they warn that support for Y146/Y145 is key and its loss will open the way for a deeper correction. Standard Chartered Bank strategists point out that the possibility of such development should not be ruled out, but they would have recommended the use of attempting to reduce the pound / yen to Y140.50 to search for opportunities to open long positions with a view to the resumption of upward movement and growth in the direction of Y160 and Y163.
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