GBPJPY attempts to get rid of the negative pressures – Analysis – 23-6-2017

GBPJPY pair still lacking the positive momentum until this morning, but its stability above the main support of the bullish channel at 139.00 and attempting to form new bullish wave reinforces our bullish overview for the near term and medium term period, thus, we will keep waiting to surpass the moving average 55 and manage to reach 142.20 followed by 143.35.

The worries of changing the main trend will appear in case the price provided negative close below the above mentioned main support, to force it to cancel the bullish overview and start new main bearish bias to target 137.65 followed by 135.00 levels.

Expected trading range for today is between 140.20 and 142.20

Expected trend for today: Bullish