GBPJPY still stuck – Analysis – 27-6-2018

The GBPJPY pair continued to provide clear sideways trading due to its limited move between the main support at 144.30 and the initial resistance 146.00, while stochastic attempt to for negative wave and contradicting the main bullish attempts allow us to stay neutral until the price manages to breach one of the mentioned levels followed by determining the main targets for the upcoming period.

Note that breaching the current resistance will reinforce the continuation of the positivity to expect rallying towards positive targets that start at 148.00 followed by 149.70, while declining below the current support will hint the preparation to build new bearish bias and target 143.10 level first.

Expected trading range for today is between 144.30 and 146.00

Expected trend for today: Neutral