GBPJPY keeps the positive stability – Analysis – 19-1-2018

The GBPJPY pair provided new positive close recently above 153.70 level, to confirm the domination of the bullish bias, to return to resume the expected positive attack, stochastic reach to the overbought level eases the way towards gaining extra momentum, to begin achieving more of the targets by reaching 155.90 initially, which forms 50% Fibonacci correction level.

We should mention that the price attempt to reach below 153.70 level might force it to delay the bullish rally, which forces it to suffer some gains by attempting to test the initial support at 151.50.

Expected trading range for today is between 153.70 and 155.90

Expected trend for today: Bullish