GBPJPY tests the moving average – Analysis – 20-3-2018

The GBPJPY pair forms some positive rebound yesterday to test the moving average 55, as the price faces clear contradiction now between the major indicators, to expect providing some sideways trading and depend on the stability of 150.80 level to confirm the domination of the correctional bearish bias until reaching 146.80 level followed by 145.20.

Any attempt to surpass the mentioned barrier will confirm regaining the bullish bias, to expect achieving more targets by moving towards 152.80 followed by reaching the recently recorded top at 156.60.

Expected trading range for today is between 150.10 and 147.25

Expected trend for today: Fluctuated negatively