GBPJPY achieves the first target – Analysis – 24-4-2017

The GBPJPY price formed positive price gap to surpass the barrier at 141.10, to reach the initial target at 141.80, reinforcing our bullish expectation in the upcoming period, to expect renewing the bullish attempts until recording the next target at 143.35 to face 23.6% Fibonacci correction level.

We notice that stochastic surpass to the overbought level, which forces the price to provide an intraday sideways trading until gathering the bullish momentum, then resume the positive attack until achieving the suggested target.

Expected trading range for today is between 141.10 and 143.35

Expected trend for today: bullish.