GBPJPY is slow – Analysis – 5-10-2018
Economies.com
2018-10-05 08:50AM UTC
The GBPJPY pair continued to provide slow trades despites having factors that agree the positive stability, as the stability of 147.20 support line, besides the consolidation of the moving average 55 below the current price.
The intraday sideways trading might be caused by the contradiction of stochastic that fluctuates below 50, thus, the price needs to get new positive momentum to assist to renew the bullish attempts that will push to surpass 149.00 level and manage to touch 38.2% Fibonacci correction level that forms the next target at 149.65.
Expected trading range for today is between 147.70 and 149.00
Expected trend for today: Bullish
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