GBPJPY renews the positivity – Analysis – 12-7-2018

The GBPJPY pair succeeded to surpass the moving average 55 that formed an initial barrier at 147.80, to block the main bullish attack, while we can confirm the continuation of the positivity to expect targeting 128.90 level, and the continuous positive pressures will extend trading towards 38.2% Fibonacci correction level at 150.80.

Stochastic positive rally and settling within the overbought areas supports our bullish overview by providing new positive momentum to ease the attempt to reach our suggested positive targets.

Expected trading range for today is between 147.80 and 148.90

Expected trend for today: Bullish