GBPJPY provides positive signal – Analysis – 20-9-2018

The GBPJPY pair provided new positive signal yesterday by fluctuating above the main resistance at 147.85, hinting the preparation to move into new positive track, while the current fluctuation is caused by stochastic release from the overbought areas, allowing us to gather new positive momentum to manage to target new positive levels that start at 149.00 followed by reaching 150.40.

We should note that it is important to settle above 146.35 level that formed additional support line recently to confirm blocking the price within the positive range until gathering the required momentum and start recording the suggested targets.

Expected trading range for today is between 147.00 and 149.00

Expected trend for today: Bullish