GBPJPY still limited – Analysis – 24-5-2017

The GBPJPY pair repeated the tight trading by moving confined between 143.30 support and 145.45 resistance, thus, we will remain neutral until the price manages to surpass one of these levels followed by managing to detect the main targets for the near term and medium term period.

We should note that breaching the current resistance will reinforce the bullish bias domination for the upcoming trading, to start recording new positive targets that start at 147.00, while declining below 143.30 will put the price under the bearish bias domination to be forced to suffer more losses by reaching 142.20 followed by 140.15 levels.

Expected trading range for today is between 143.30 and 145.45

Expected trend for today: Neutral