GBPJPY is unstable – Analysis – 22-10-2018

The GBPJPY pair suffered the strength of the moving average 55 around the bearish channel’s resistance at 146.50, to block the attempts to regain the bearish bias, which confirms the price current instability, to keep waiting the next daily close to manage to detect the next main trend.

In case the price settled above 146.50, the chances will increase to get positive rally to target 148.35 followed by reaching 149.70 levels, while crawling below the resistance will confirm the negative stability again, to start targeting negative levels around 145.75 followed by 144.75.

Expected trading range for today is between 147.80 and 146.00

Expected trend for today: Neutral