GBPJPY holds above the support – Analysis – 3/9/2015

The GBPJPY renewed its attempts to test the main bullish channel’s support to notice its affect by the strength of this level, to bounce positively by reaching 184.50 level, and the continuation of the support line stability makes us keep our bullish overview to start forming additional bullish waves to surpass 185.00 level and start reaching targets that begin at 187.30 then 190.00.

We remind you that attempting to show negative waves and settling below the current support will cancel the bullish overview and start forming bearish bias, to target 177.30 as a first station.

Expected trading range for today is between 182.50 and 187.30

Expected trend for today: Bullish