GBPJPY tests the barrier – Analysis – 12-10-2017

The GBPJPY pair forced to form an intraday positive rally affected by the positivity of the main indicators, to reach to the barrier at 149.10, this level forms 50% Fibonacci correction level, to make us monitor the price behavior for today due to its importance to detect the main trend in the upcoming period.

Reminding you that the continuation of the price fluctuation below the current barrier will confirm its surrender to the bearish correctional attempts that target 146.80 level as a first negative station, then wait it to reach the moving average 55 at 145.55.

The price rally above the barrier and providing positive close will confirm regaining the bullish bias to return to prefer its attempts to reach 152.80, which forms a first positive station in the upcoming trading.

Expected trading range for today is between 149.10 and 146.80

Expected trend for today: Bearish