GBPJPY is limited again – Analysis – 23-5-2017

The GBPJPY pair failed to resume the bullish attack due to the stability of the initial resistance around 145.45, which pushed the price to form new sideways fluctuation by moving between the current resistance and 143.30 support, while we recommend staying neutral for the near term trading until breaching one of the main levels to manage to detect the next targets.

We remind you that breaching the current resistance will reinforce the domination of the bullish bias for the upcoming trading, to start recording new positive targets that start at 147.00, while declining below 143.30 support will put the price under the bearish bias domination and suffer more losses by reaching 142.20 followed by 140.15.

Expected trading range for today is between 143.30 and 145.45

Expected trend for today: Neutral