GBPJPY still positive – Analysis – 10-12-2018

Despite the GBPJPY pair’s weak trades, its stability above the bullish channel at 142.75 confirms the preparation to form strong bullish trades in the near term period, as gaining the positive allows to expect targeting 144.15 level that represents the moving average 55, while the continuation of the positive pressures will allow the price to touch the second target at 145.60.

We remind you that attempting to crawl below the current price and getting negative close will confirm surrendering to the bearish bias domination again, to expect suffering big losses by moving towards 142.40 and 140.90 levels.

Expected trading range for today is between 142.85 and 144.15

Expected trend for today: Bullish