GBPJPY tests the support – Analysis – 18-5-2017
Economies.com
2017-05-18 07:05AM UTC
The GBPJPY pair managed to decline towards 143.30 to test the support line represented by 23.6% Fibonacci level, while the bullish scenario depends on the strength of this support to continue suggesting the bullish attempts that target 145.45 followed by waiting to rally towards 148.45 top.
We should note that the price attempt to decline below the current support will postpone the bullish attempts and push the price to suffer losses by moving towards 142.20 followed by 140.30, thus, we should monitor the price behavior well to avoid any attempt to change the trend.
Expected trading range for today is between 143.30 and 145.45
Expected trend for today: Bullish
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