GBPJPY begins to rise– Analysis – 6-3-2018

The GBPJPY pair succeeded to settle above the bullish channel’s support at 145.00 level, to notice the beginning of forming some bullish trading by its stability at 147.00, we expect the price reach to 148.35 in the near period, and the continuation of the positive pressures that might allow it to reach the moving average 55 at 150.20.

The continuation of stochastic providing positive momentum by surpassing the oversold level that reinforces the bullish expectation, to increase the chances for surpassing the initial barrier at 148.35, confirming the attempt of achieving extra positive targets in the upcoming period. 

Expected trading range for today is between 146.15 and 148.35

Expected trend for today: Bullish