GBPJPY attempts to regain the bullish attempts – Analysis – 19-10-2017

The GBPJPY pair showed weak negative trading by touching 146.80 level recently that formed the first correctional target, to repeat the bullish attempts by rallying above 149.10 level, while getting positive close above this barrier that represents 50% Fibonacci will confirm regaining the bullish bias to expect targeting 151.60 followed by pushing on the previously recorded top at 152.85.

We remind you that it is important to monitor the price behavior to avoid any new attempt to provide negative trading below 149.10 level, also, stochastic forming for new positive wave supports the attempts to gather new bullish momentum to assist to ease the mission of reaching the waited target.

Expected trading range for today is between 149.10 and 151.60

Expected trend for today: Bullish