GBPJPY gains strong momentum – Analysis - 20-06-2017

The GBPJPY pair repeated the fluctuation above the moving average 55 to form good support around 141.50 and confirms the continuation of the positivity for the upcoming period, also, stochastic rally towards the overbought areas reinforces the attempt to gather the positive momentum again, to keep waiting to move towards the first target at 143.35 followed by extending trading to reach the next main target at 145.45.

We should note that attempting to decline below the moving average 55 will postpone the bullish attempts on the intraday basis to push the price to form intraday negative rebound and test the main bullish channel's support at 139.00 followed by renewing the bullish attack from there.

Expected trading range for today is between 141.50 and 143.35

Expected trend for today: Bullish