The GBPJPY builds additional support level – Analysis – 1-5-2019

The GBPJPY pair formed additional support recently at 143.75, to force the price to postpone the negative attack and start bouncing bullishly by settling at 145.45 now, and despite the price consolidation within the bearish channel, the continuous stability of the additional support allows us to suggest more bullish rebound that might target 146.30 level followed by reaching the main resistance at 147.70.

Regaining the negative attempts requires declining below 143.75 level and providing negative close below it, to increase the chances of targeting the main negative levels located at 142.10 followed by 140.40.

The expected trading range for today is between 144.75 and 146.30

The expected trend for today: Bullish