GBPJPY might postpone the bullish attack – Analysis – 17-5-2017

The GBPJPY pair faced strong negative pressures yesterday due to stochastic reach to 20 level, forcing it to fluctuate below the initial support at 145.45, while we remind you that the continuation of the fluctuation below this support will postpone the bullish attack and push the price to build correctional bearish bias to test 23.6% Fibonacci correction level at 143.30.

In general, the main expectation will remain bullish for the upcoming trading, waiting to end the correctional fluctuation and gather bullish momentum to renew the positive pressure on 148.30 level, to attempt to breach it and attempt to reach new positive targets that might start at 150.35.

Expected trading range for today is between 143.30 and 145.60

Expected trend for today: Fluctuated within the bullish range