GBPJPY begins to rise – Analysis – 23-10-2017

The GBPJPY pair provided more of the positive trading after testing the support at 147.25 confirming its readiness to resume the expected bullish attack, surpassing 50% Fibonacci correction level eases the attempt to reach the initial target at 151.60, renewing the attempts to press on the recorded top at 152.85.

By the above image, we notice that the moving average 55 reach to the support base, reinforcing the price confinement within the bullish range, stochastic reach to the overbought level provides new positive momentum that confirms the attempt of achieving the suggested targets.

Expected trading range for today is between 149.10 and 152.85

Expected trend for today: Bullish.