GBPJPY attempts to surpass the dominant negativity – Analysis 10-3-2017

The GBPJPY price gained new positive momentum yesterday, to surpass the bearish channel’s resistance at 140.10, which provides positive trading by reaching 140.50, while providing four hours close above the breached resistance will makes us prefer the bullish bias, to expect reaching 141.40, to attempt to push on 23.6% Fibonacci correctional level at 142.50.

Stochastic rally to the overbought level might increase the positive pressure on the current trading, which provides new positive momentum that assist to confirm the breach and begin to record the mentioned targets.

Expected trading range for today is between 140.00 and 141.40

Expected trend for today: bullish.