GBPJPY settles above the main support – Analysis – 22-6-2017

The BPJPY price keeps resisting the negative pressures, to settle clearly above the main support at 139.10, which increases the chances for regaining the bullish bias in the near period, to confirm the positivity the price needs to breach the moving average 55 at 141.50, to expect reaching to the initial target at 143.35 reaching to 145.45 level in the upcoming period.

Stochastic stability below 50 level will decelerate the bullish attempts in the current period, to expect forming more of the sideways trading until gaining the required positive momentum to achieve the suggested targets.

Expected trading range for today is between 139.40 and 142.20

Expected trend for today: Bullish