GBPJPY needs to surpass the barrier – Analysis – 7-3-2018

The GBPJPY pair was forced to postpone the bullish attack, affected by the stability of 148.35 barrier, forcing the price to provide some sideways trades by bouncing towards 146.70 level, reminding you that the bullish scenario depends on the stability of the bullish channel’s support line at 145.00 to allow us to wait to gather new positive momentum and manage to achieve the required breach to reach towards the additional targets that start at 150.20.

Therefore, we will keep our bullish overview as long as 145.00 remains intact, noting that the continuous attempts of stochastic to surpass 50 level will increase the chances of gathering the positive momentum to extend trades towards achieving the mentioned targets.

Expected trading range for today is between 146.15 and 148.35

Expected trend for today: Bullish