GBPJPY tends to the positivity – Analysis – 17-10-2018

Despite the continuous contradiction of the major indicators, the GBPJPY pair’s stability above 146.75 level confirms keeping the previously expected bullish attempts, reminding you that the first positive target is located at 149.78, while gaining new positive momentum might extend trades towards 150.45, forming the second station for the positive attempts.

The risks of changing the trend is represented by the price attempt to crawl below the key support and getting negative close below it, which confirms the negative effect, to expect suffering big losses by moving towards 145.90 and 144.75 levels.

Expected trading range for today is between 147.35 and 149.78

Expected trend for today: Bullish