GBPJPY needs strong momentum – Analysis – 18-10-2018

The GBPJPY pair failed to record any new positive target yesterday, as it lacks the positive momentum, noticing its frequent fluctuation and approaching the key support 146.60, assuring the importance of this support line stability to confirm the bullish attempts that mainly target 149.78 followed by 150.45 levels.

On the other hand, facing negative pressures and providing negative fluctuation below the current support will confirm its surrender to the bearish bias domination by settling within the bearish channel, allowing us to suggest targeting 145.90 level, to form the first negative station, followed by reaching 144.75 in the upcoming period.

Expected trading range for today is between 146.60 and 148.60

Expected trend for today: Bullish