GBPJPY repeats the positive closes – Analysis – 24-10-2017

In spite of the slow move of the GBPJPY pair trading yesterday, but repeating providing positive close above147.25 confirms the bullish bias domination in the near and medium period trading, the price might be forced to test 50% Fibonacci correction level at 149.10 until gathering new positive momentum, to resume its bullish attack, to achieve the initial target at 151.60 reaching to 152.85 in the upcoming period.

Stochastic repeats the attempts to reach the overbought level, which decreases any negative effect that might decelerate the waited positive attempts, and that provides extra momentum that allows the price to reach the suggested targets.

Expected trading range for today is between 149.10 and 152.85

Expected trend for today: Bullish