GBPJPY attempts to surpass the barrier – Analysis – 27-4-2017

The GBPJPY pair faced strong barrier at 143.35 yesterday, as it forms 23.6% Fibonacci correction level, to settle within intraday sideways range below this level, but stochastic consolidation within the overbought areas increases the positive pressure, to allow us to wait to achieve the breach followed by resuming achieving gains by reaching 145.40 followed by 147.25.

We remind you that the continuous strength of 143.35 level against the bullish rally might force the price to form some intraday sideways trading and move between this barrier and 141.10 until gathering new positive momentum.

Expected trading range for today is between 142.20 and 145.40

Expected trend for today: Bullish