GBPJPY remains bullish – Analysis – 10-5-2017

The GBPJPY price ended its positive rally yesterday by recording 147.85 level, to confirm the domination of the bullish bias, to approach from the target at 148.45, the stability of the price above the support at 145.45 makes us prefer more of the bullish attempts, to expect surpassing the waited target to move to a new positive level to target 150.40 level reaching to 152.80 in the upcoming period.

While the stability of 148.45 level will force the price to form sideways bias, which confines the trading between this level and the initial support level, therefore, you should monitor the price behavior well when achieving the current target to avoid any fluctuation that might cause unexpected losses.

Expected trading range for today is between 146.05 and 148.45

Expected trend for today: bullish