GBPJPY resumes the bullish correction – Analysis – 19-1-2017
Economies.com
2017-01-19 08:55AM UTC
The GBPJPY price managed to breach 140.00 level yesterday to delay the negative domination, to resume the bullish correctional trend by reaching 140.80, we expect the price rally towards testing the moving average 55 at 141.40, then targeting the resistance of the bearish channel.
Which makes us suggest the bullish bias in the near and medium term trading until hitting the suggested targets, to monitor the price behavior when reaching the resistance, due to the importance of this level to detect the main trend in the upcoming period.
Expected trading range for today is between 140.00 and 142.50
Expected trend for today: Bullish
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