GBPJPY affected by the stability of the moving average 55 – Analysis – 13-3-2017

The GBPJPY price didn’t record the expected positive targets, since the moving average 5 forms a strong barrier at 140.20, which forces it to provide sideways trading by its fluctuation near 139.80, but the continuation of the price attempts to settle above the bearish channel’s resistance at 139.65 for today supports our suggestion of the attempt to surpass the negative domination, to wait for surpassing the moving average 55, to begin gathering the expected gains at 141.40 reaching to 142.50 level in the medium period.

Stochastic stability above 50 level reinforces the bullish suggestion, which provides new positive momentum that allows it to achieve the required breach then reach the suggested targets.

Expected trading range for today is between 139.60 and 141.40

Expected trend for today: bullish.