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The GBPJPY achieves big gains – Analysis – 1-5-2023
The GBPJPY pair took advantage of entering the bullish channel by surpassing 167.50 level, to notice forming strong bullish rally and achieve big gains by touching 171.15 level, expecting to form additional support at 169.25 to increase the efficiency of the bullish track, to expect moving towards the target at 142.50, while surpassing it might extend trades towards the next main target at 173.65.
We notice stochastic crawl towards the overbought areas, to increase the chances of gaining the positive momentum and ease the mission of resuming the rise to achieve the previously suggested additional targets.
The expected trading range for today is between 170.85 and 172.50
The expected trend for today: Bullish
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