GBPJPY gets advantage of the positive pressures – Analysis – 16-1-2018

The GBPJPY pair reacted to the positive pressures yesterday to gain some positive momentum by stochastic reach towards 80 level, to fluctuate around 152.85 barrier, also, the moving average 55 forming new support base at 149.50 supports the positive attempts again, to suggest the bullish bias now and expect targeting 153.90 followed by reaching 156.00 in the upcoming period.

Our bullish overview will depend on 151.50 level forming initial support, and assists to block the price within the bullish range until reaching the waited positive targets.

Expected trading range for today is between 151.50 and 153.90

Expected trend for today: Bullish