GBPJPY keeps the positivity – Analysis – 5-12-2016

The GBPJPY price ended its trading in Friday by providing positive close above 143.20 level, to form a new support base against the current attempts, therefore, we will keep our bullish suggestion for the upcoming trading, to wait for its attraction towards the first target at 148.20, then continues its bullish attack until reaching the main target at 154.70 in the upcoming period.

We notice stochastic attempt to settle within the overbought level to keep providing the required positive momentum to confirm the positivity, and to open the way towards achieving the suggested targets.

Expected trading range for today is between 143.20 and 148.20

Expected trend for today: bullish.