GBPJPY trades above the support – Analysis – 14-9-2017

The GBPJPY pair was forced to provide temporary negative rebound yesterday after recording 146.65 level, attempting to revive before resuming the bullish attack, while the stability above 144.80 support confirms the domination of the bullish bias to keep waiting to move towards 147.85, noting that surpassing this barrier will open the way to achieve additional targets that start at 149.90 followed by 150.95.

The stability of the moving average 55 below the current price increases its strength against the current trading, to confirm blocking the price within the bullish range, also, stochastic consolidation within the overbought areas allows the price to gather new positive momentum in the near term period and start achieving our targets.

Expected trading range for today is between 144.80 and 147.85

Expected trend for today: Bullish