GBPJPY settles within the bullish range – Analysis – 21-11-2016

The GBPJPY price couldn’t succeed to gather the required extra momentum to resume the bullish attack, but we notice its stability at 137.00 level, to keep the bullish bias domination until this moment, reminding you that the price success to gain the bullish momentum will open the way towards achieving the first target at 138.80, to be attracted strongly to the main resistance at 140.40.

We should mention that stochastic success to surpass the overbought level might force the price to form an intraday negative rebound, to face 134.40 level before reaching the suggested targets.

Expected trading range for today is between 135.50 and 138.80

Expected trend for today: bullish.