GBPJPY awaits the breach – Analysis – 17-3-2017

The GBPJPY pair kept its positive stability above 138.80 support, to notice forming new bullish rally to push on the moving average 55 that formed solid obstacle recently against the bullish actions, while in general, the bullish overview will remain valid, waiting to succeed to breach the current barrier and move towards the first target at 141.40, followed by repeating the bullish attempts by recording the next target at 142.50.

Stochastic stability above 50 level supports our bullish overview, to attempt to provide new positive momentum that assists to breach the moving average 55 and reach our targets.

Expected trading range for today is between 138.85 and 141.40

Expected trend for today: Bullish