GBPJPY settles above the initial support – Analysis – 2-5-2017

The GBPJPY price didn’t provide any new positive level until this morning taking the sideways bias until gathering new positive momentum in the near period, reminding you that the stability of the initial support at 143.35 forms the main factor to confirm the positivity, and to avoid any attempt to provide bearish correctional trading, waiting for the price attraction to the main targets at 145.10 reaching to 148.45 in the upcoming period.

Stochastic fluctuation within the overbought level increases the chances for gathering new positive momentum, which confirms the continuation of the positivity until reaching the waited targets.

Expected trading range for today is between 143.35 and 145.40

Expected trend for today: bullish if the initial support settled.