GBP JPY keeps the positivity 8/7/2013

Economies.com
2013-07-08 08:21AM UTC

The pair remains trading within the bullish channel by the stability of the support level around 149.50, which is supported by the moving average 55 as appears in the above chart, to continue in expecting updating the positivity in the near and medium period to visit 151.80 as a main target.

 

Stochastic attempts to gain the required positive momentum to achieve the previously suggested target but we must mention that the price attempt to break the support level will cancel the bullish bias domination to be affected by new negativity to visit 148.10 as a negative target.

 

Expected trading range is between 149.50 and 151.80

 

Expected trend for today: bullish if the support level remains intact

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