GBPJPY gets rid of the negative pressures – Analysis – 1-2-2017

The GBPJPY price ended the negative rebound by testing the support at 140.70, to notice forming a strong obstacle against the negative fluctuation, which forces it to renew the bullish attempts and its stability above the moving average 55, which confirms the continuation of the positivity in the upcoming trading, to keep waiting for recording the first target at 143.20, and surpassing it will repeat the pressure on the previously achieved top at 144.80.

Stochastic succeeded to surpass the oversold level to rally strongly to the overbought level, to support the continuation of the positive pressure and to provide the required momentum for achieving the waited targets.

Expected trading range for today is between 141.50 and 143.20

Expected trend for today: Bullish