GBPJPY pushes on the average – Analysis – 30-5-2016

The GBPJPY price returned to form repeated bullish waves since Friday’s trading, to notice its stability above the moving average 55 and recording 162.30 level, which supports the price attempt to trade within the bullish level again, to expect the attempt to record the next target at 164.15, then reaching the main target at 168.40 in the upcoming period.

Stochastic attempt to settle within the overbought level increases the positive pressure, which confirms the price attempt to surpass the bullish level until achieving the suggested targets.

Expected trading range for today is between 161.20 and 164.15.

Expected trend for today: bullish.