GBPJPY holds above the support – Analysis – 3-10-2018

The GBPJPY pair faced some negative pressures yesterday, while its stability above 147.20 support confirms the affection by the bullish bias domination for the upcoming period, as the price needs to get new positive momentum to increase the chances of reaching the positive targets at 148.45 followed by 149.65 levels.

Any attempt to decline below the current support and providing negative close will confirm surrendering to the bearish bias domination by consolidating within the bearish channel, allowing us to suggest achieving new negative targets that start at 146.75 followed by 145.80.

Expected trading range for today is between 147.20 and 148.45

Expected trend for today: Bullish