GBPJPY might be forced to fluctuate – Analysis – 6-12-2016

In spite of the stability of the GBPJPY price within the bullish range, depending on the strength of the main support at 140.40, but the stability of the price in sideways range near 145.00 level, the intraday sideways trading caused by stochastic surpass to the overbought level, which increases the chances for testing the initial support at 143.20 until gathering the bullish momentum then reaching the suggested target at 148.20.

While the price decline below the initial support will delay the bullish attempts until testing the main support at 140.40 to begin forming a new bullish attack, to achieve the waited targets.

Expected trading range for today is between 144.10 and 148.20

Expected trend for today: Bullish