GBPJPY keeps the positivity – Analysis – 13-12-2016

The GBPJPY pair repeated the positive closings above the initial support 143.00, to confirm the affection by the bullish bias domination for the upcoming trading, while the price attempt to gain new positive momentum increases the chances of rallying positively, waiting to surpass 146.60 followed by reaching 148.25.

Stochastic attempt to settle within the overbought areas to increase the chances of gathering new momentum and confirm the attempt to achieve our waited target, besides, the moving average 55 stability below the main support 140.00 confirms blocking the price within the bullish range and increase the positive pressure on the upcoming trading.

Expected trading range for today is between 144.50 and 148.25

Expected trend for today: Bullish