GBPJPY repeats the fluctuation within the bullish range – Analysis – 5-2-2019

The GBPJPY pair was forced to form intraday negative rebound yesterday affected by stochastic crawl towards the oversold areas, noticing its approach to the bullish channel’s support line at 142.80, while the upcoming scenario depends on the strength of this support to expect renewing the bullish attack and target 144.60 followed by 145.85 levels in the upcoming period.

On the other hand, breaking the major support will confirm canceling the bullish overview to start forming strong negative trades and expect suffering many losses by moving towards 142.00 and 140.40 levels.

The expected trading range for today is between 142.80 and 144.60

The expected trend for today: Bullish