GBPJPY looks for the positive momentum – Analysis – 8-12-2016

The GBPJPY price affected by an intraday negativity, due to stochastic decline below 50 level, but its stability above the main support at 140.20 supports the bullish overview in the upcoming period, we expect forming extra sideways fluctuation until gathering the bullish momentum, to begin the positive attack that targets 146.60 reaching to 148.25 level.

The stability of the moving average 55 below the current trading forms a main factor to confirm the positivity, to wait for getting rid of the positive pressure and it begins to form bullish waves until achieving the suggested targets.

Expected trading range for today is between 143.00 and 146.60

Expected trend for today: bullish