GBPJPY repeats the bullish attempts – Analysis – 14-3-2017

The GBPJPY price provided positive trading to move away from 139.60 level, to repeat the pressure on the moving average 55, to form an intraday obstacle at 140.20, reminding you that we wait until confirming breaching the moving average 55, to avoid any unexpected negative rebound, to wait until recording the initial positive target at 140.40 reaching to 142.50 level in the near and medium period.

Stochastic approach from 80 level reinforces our expectation to attempt to build new bullish bias, which increases the chances for surpassing the moving average 55, but the price failure to achieve the required breach might force it to provide strong negative trading, to suffer several losses until reaching 137.55.

Expected trading range for today is between 139.60 and 141.40

Expected trend for today: bullish