GBPJPY needs new momentum – Analysis – 25-4-2017

The GBPJPY pair provided weak trading by fluctuating around 140.80 level, but its stability above 140.10 initial support confirms the preparation to resume the bullish attack in the near term and medium term period, also, the consolidation of the moving average 55 below the current price supports the bullish attempts to keep waiting to gather new bullish momentum and manage to surpass 141.80 level, to start recording new targets by reaching 143.30 followed by 145.45.

Stochastic succeeded to exit the overbought areas to increase the chances of gathering new bullish momentum in the near term period, to support our bullish overview until reaching the waited targets.

Expected trading range for today is between 141.10 and 143.35

Expected trend for today: Bullish