GBPJPY forms strong bullish rebound – Analysis – 18-1-2017
Economies.com
2017-01-18 08:40AM UTC
The GBPJPY price surprised by strong bullish momentum that forced it to surpass 138.90 level yesterday, to be attracted towards 38.2% Fibonacci correction level at 140.00, the bearish scenario depends on the stability of the barrier, which makes the price attempt to regain the bearish bias, to repeat the pressure on 137.40.
While surpassing 140.00 level will cancel the negative overview, to resume its bullish rally to target 141.40 level first reaching to the bearish channel’s resistance at 142.70.
Expected trading range for today is between 140.00 and 137.40
Expected trend for today: Bearish
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