GBPJPY prepares to rally – Analysis – 9-3-2018

The GBPJPY pair repeated the positive closings above the main bullish channel’s support line at 146.60, confirming the affection by the bullish bias domination, noticing that it gains new positive momentum by stochastic approaching to 80 level, to increase the chances of surpassing 148.35 barrier and start recording additional targets in the near term and medium term period by moving towards 150.00 followed by 152.85.

The failure to achieve the required breach might force the price to form additional sideways trading to keep its consolidation within the bullish channel until gathering new positive momentum and rally towards recording the waited targets.

Expected trading range for today is between 147.00 and 150.00

Expected trend for today: Bullish