GBPJPY fluctuates within the bullish range – Analysis – 2-2-2017

The GBPJPY price formed a new bullish rally yesterday recording 144.00 level, to notice forming an intraday negative rebound affected by stochastic negativity that settles currently below 50 level, in general the bullish suggestion will remain valid if the initial support settled at 141.50, waiting for gathering new bullish momentum that allows it to achieve the second target at 145.50.

The stability of the moving average 55 near 142.30 level assists to confirm the price confinement within the bullish range, to form an extra support until gathering the required momentum then reaching the waited targets.

Expected trading range for today is between 142.30 and 144.80

Expected trend for today: bullish.