GBPJPY exits the bearish track – Analysis – 25-1-2017

GBPJPY price exposed to a sudden positive pressure to notice providing bullish trading surpassing the bearish channel’s resistance to record 142.70 level, 141.40 level will form a good support against the bullish trading, to expect the extension of the price to the upside towards 143.20, which forms the initial positive target then reach 145.30 in the upcoming period.

Stochastic fluctuation near 80 level increase the chances for gathering new positive momentum, to agree with the stability of the moving average 55 near the mentioned support, to confirm its confinement within the bullish range until achieving the suggested targets.

Expected trading range for today is between 141.40 and 143.20

Expected trend for today: bullish if the support settled.