GBPJPY settles above the support – Analysis – 06-12-2018

The GBPJPY pair succeeded to provide a new positive close above the bullish channel’s support at 142.70, to increase the chances for renewing the positive attempts in the current period, while gaining a new positive momentum will confirm its rally above the initial barrier at 144.05 then wait for reaching 146.15.

Note that facing new negative pressures and the price reach below the mentioned mains support, so that will confirm the price move to a new negative track, to begin targeting extra negative levels by reaching 141.80 and 136.65.

Expected trading range for today is between 142.70 and 144.05

Expected trend for today: Bullish