GBPJPY forms minor bullish channel – Analysis – 15-3-2018

The GBPJPY pair formed a minor bullish channel in its last trading, to notice its fluctuation near the support at 147.90, the stability of the support supports resuming the bullish attack, which will target 150.50 level in the near and medium period, since it forms the dominant of the channel’s resistance.

While the price reach below the current support will confirm the price readiness to provide some bearish correctional trading, to expect targeting some negative levels that begin at 147.25 and 146.65, therefore, you should monitor the price behavior well to avoid any losses that might be caused by changing the current track.

Expected trading range for today is between 147.90 and 149.00

Expected trend for today: Bullish