GBPJPY tests the support- analysis- 2/9/2015
The GBPJPY ended its negative fluctuation yesterday by hitting the main bullish channel’s support located at 182.50, which represents strong obstacle against the bearish attempts, note that the bullish suggestion depends on the stability of the previous support, which allows the price to begin to form positive attack and we wait to reach 187.00 and 190.00 level.
If the negative pressure continued on the price and the attempt to provide trading below the current support level, will cancel the bullish overview and that makes the price begin to form stable bearish bias, and 177.30 level represents the first target for the bearish bias.
Expected trading range is between 182.50 and 187.30
Expected trend for today: bullish if the support settled.
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