GBPJPY moves away from the initial support – Analysis – 2-8-2017

The GBPJPY pair confirms its affection by the positive attempts recently to notice its move from the initial support around 145.00, to keep suggesting the positive domination until touching 147.60 resistance, while we remind you that the continuation of the positive pressure might push the price to surpass the current resistance, to confirm the continuation of the positive domination by reaching 38.2% Fibonacci correction level around 150.95.

Stochastic form to new positive wave reinforces the bullish attempts by providing new positive momentum to ease the attempt to reach the waited target.

Expected trading range for today is between 145.60 and 147.60

Expected trend for today: Bullish