GBPJPY holds above the support – Analysis – 28-12-2016

The GBPJPY price provided new positive close above the support level at 143.25, to increase the chances for regaining the expected bullish bias, therefore, we will keep waiting for the price attraction to 146.60 level, and surpassing it will confirm the extension of the recorded top at 148.25 to form the second target for the near and medium period.

Note that the price attempt to decline below the current support and providing negative close will return the bearish correctional attempts, to expect reaching to 140.35.

Expected trading range for today is between 143.25 and 146.60

Expected trend for today: Bullish