GBPJPY builds bullish channel – Analysis – 22-6-2018

The GBPJPY pair managed to build new bullish channel as the support line 144.30 consolidated, starting to form some bullish trading by settling around 146.40, noting that succeeding to surpass 148.00 –that formed an obstacle against the positive release- will confirm the continuation of the positivity for the upcoming trading and opens the way to record more targets that start at 149.50 followed by reaching 38.2% Fibonacci correction level at 150.80.

We notice stochastic rally above 50 level to provide the positive momentum and increase the chances of surpassing the mentioned barrier to confirm the continuation of the suggested positivity.

Expected trading range for today is between 145.00 and 148.00

Expected trend for today: Bullish