GBPJPY resists the negative pressures – Analysis – 27-9-2017

The GBPJPY pair continues to resists the negative pressures and that comes from the strong decline of stochastic below 50 level, to notice its stability above the initial support at 150.00 level, besides the stability of 50% Fibonacci correction level at 149.15(which measured by the price decline from 174.94 reaching to 123.05) confirms the continuation of the positivity that targets 152.80 and 155.10.

The stability of the moving average 55 below the current main trading reinforces our bullish suggestion by providing the positive momentum, which increases the resistance of the price to the mentioned intraday negative pressures.

Expected trading range for today is between 150.00 and 152.80

Expected trend for today: Bullish