GBPJPY hits the target – Analysis – 24-11-2016

The GBPJPY price opened its trading today by forming a strong bullish wave, that allows it to achieve the waited target at 140.40, reminding you that the current level forms an extension to the bearish channel’s resistance, to form the key line between resuming the bullish attack and between its stability within the negative range.

Therefore, we recommend the neutrality for the trading today until confirming the true trend in the upcoming period, note that providing positive close above the current resistance will support the price rally to record new gains that might begin at 141.60 reaching to 143.10.

Expected trading range for today is between 137.60 and 141.60

Expected trend for today: neutral.