GBPJPY is forced for intraday sideways fluctuation – Analysis – 15-3-2017

The GBPJPY price failed to breach the moving average 55 level, which forms an obstacle at 140.30 against the bullish rally, by the above image, we notice the stability of the price above the support at 138.75 to expect forming an intraday sideways fluctuation until gathering the bullish momentum, which allows it to surpass the moving average 55 and reach the waited positive targets at 141.40 and 142.50.

While the price decline below 138.75 level will put the price under the negative domination again, to attempt to build new negative trading to target 137.60 first reaching to 136.40.

Expected trading range for today is between 138.80 and 141.40

Expected trend for today: Bullish