GBPJPY is forced to postpone the bullish rally – Analysis – 3-11-2017

The GBPJPY pair faced intraday negative pressures yesterday to be forced to postpone the bullish attack due to its fluctuation below the initial support at 149.10, while the continuation of the negative pressures might force the price to test the next support around 147.35 until gathering new bullish momentum to start recording the main targets that begin at 152.85.

The bullish overview depends on the price consolidation within the bullish channel that appears on chart, thus, we will keep waiting to gather new positive momentum to manage to resume the waited bullish attack.

Expected trading range for today is between 147.35 and 151.50

Expected trend for today: Fluctuated within the bullish range