GBPJPY reinforces the strength of the support – Analysis – 7-12-2018

The GBPJPY pair continues to fluctuate within the bullish channel levels, reinforcing the strength of the main support at 142.70, therefore, we will keep preferring the bullish attempts, which requires surpassing 144.15 level, to open the way towards recording more of the positive targets by reaching 145.60 and 146.15.

Stochastic surpass to the oversold level confirms surpassing the negative pressures, to increase the chances for gaining the positive momentum, which supports the bullish suggestion, and it begin to record the mentioned targets.

Expected trading range for today is between 143.25 and 145.60

Expected trend for today: Bullish