GBPJPY revives – Analysis – 17-7-2018

The GBPJPY pair did not hold above 148.90 level yesterday, attempting to take a break before resuming the bullish attack, while the consolidation of the moving average 55 near 148.00 level reinforces the continuation of the positivity by forming additional support, expecting to gather new positive momentum to target 150.80 level, to press on 38.2% Fibonacci correction level that appears on the chart.

Stochastic fluctuation within the overbought areas reinforces the continuation of the positivity to increase the chance of gathering new positive momentum and assists to rally towards the waited targets.

Expected trading range for today is between 148.00 and 150.80

Expected trend for today: Bullish