GBPJPY touches the target – Analysis – 19-9-2018

The GBPJPY pair succeeded to provide new bullish attack and reach our target at 147.85, which forms the bearish channel’s resistance that appears on the chart, while the importance of this barrier to detect the next main trend makes us prefer staying aside and wait the next close to manage to detect the new main targets.

In case this resistance remained intact, the price will be forced to start forming strong negative trades, to target 146.40 first, followed by extending trading towards 145.20, while breaching the current resistance will confirm moving into new positive track to attempt to achieve positive targets by reaching 149.00 and 150.40 levels.

Expected trading range for today is between 147.00 and 147.85

Expected trend for today: Neutral