GBPJPY looks for the momentum – Analysis – 6-11-2017

The GBPJPY pair repeated providing intraday sideways trading, due to the continuation of the main indicators contradiction, to settle near the initial support at 149.10, reminding you that the bullish scenario depends on the stability of 147.35 level, and its stability prevents any attempt to reach to 151.50 and 152.85.

The moving average 55 rally to 149.10 level confirms forming strong support against the current fluctuation, to confirm the continuation of the positivity in the upcoming period, besides stochastic attempt to surpass the oversold supports getting rid of the negative pressures, to begin gathering the required momentum to resume the bullish attempts.

Expected trading range for today is between 148.60 and 151.50

Expected trend for today: Bullish.