GBPJPY hits the bullish channel’s support– Analysis – 5-3-2018

The GBPJPY pair ended its bearish correctional attack by facing the main bullish channel’s support at 145.00, to form a strong obstacle against the negative bleeding, the stability of this support confirms the readiness of the price to build a new bullish attack in the near and medium period, to expect its reach to 147.15 initially, then attempts to surpass the barrier at 148.35.

We notice stochastic attempt to surpass the oversold level, to confirm surpassing the negative pressures, which opens the way towards gaining new positive momentum that reinforces the bullish expectation, to begin achieving the mentioned targets.

Expected trading range for today is between 145.00 and 147.15

Expected trend for today: Bullish.