GBPJPY surpasses the barrier – Analysis – 5-1-2018

The GBPJPY pair took advantage of stochastic reach to the overbought areas to gain new positive momentum and jump over 182.85 barrier, which provides chances to resume the bullish attack and wait to achieve the first main target at 154.45, followed by attempting to touch 50% Fibonacci correction level at 156.00.

We will keep depending on the stability of 150.50 support line to note that holding above the breached barrier will decrease the chances of falling under the effect of any negative fluctuation until reaching the mentioned targets.

Expected trading range for today is between 152.85 and 154.45

Expected trend for today: Bullish