GBPJPY attempts to become free – Analysis – 15-2-2017

The GBPJPY price repeated providing clear positive pressure on the barrier at 142.50, attempting to surpass 23.6% Fibonacci correction level, to open the way towards recording more of the gains in the upcoming period, therefore, we recommend waiting the next four hours’ close to avoid any sideways fluctuation, to detect the true targets in the upcoming period.

The price success to achieve the breach makes us wait to reach the targets at 144.80 reaching to 145.45 level, while achieving the breach might force it to form an intraday negative rebound to be attracted to the initial support at 141.40.

Expected trading range for today is between 141.40 and 144.80

Expected trend for today: bullish by achieving the breach.