GBPJPY needs additional momentum – Analysis – 25-9-2017

Despite the GBPJPY pair's stability above 150.00 initial support, but we notice forming sideways trading by moving below 152.80 due to lacking the bullish momentum, while stochastic exit from the oversold areas forms the main factor of the current sideways trading, waiting to gather new bullish momentum in the near term period to manage to surpass the current barrier to reach the second target at 155.60.

We remind you that attempting to break the initial support will confirm forming correctional bearish bias for the upcoming trading to move towards 147.80 before achieving any new positive target.

Expected trading range for today is between 150.00 and 152.80

Expected trend for today: Sideways