GBPJPY faces old support – Analysis – 13-6-2017

The GBPJPY pair managed to reach 139.00 level yesterday to achieve the previously expected negative target and end the negative trading by facing old support at 138.60, while we notice from the above chart that the price forms positive rebound that might be the beginning of building new bullish bias in case this support line remained intact against the current trading.

Therefore, we will start suggesting the bullish bias conditioned by achieving the above mentioned conditions, expecting to rally towards 141.70 level and face the moving average 55, while breaching it will extend trading towards 143.35 followed by 145.45 levels.

Expected trading range for today is between 138.70 and 141.70

Expected trend for today: Bullish