The GBPJPY crashed with an important resistance– Analysis – 12-12-2019

The GBPJPY pair formed a new bullish rally yesterday, recording 143.60 level that forms an extension for an old resistance as appears in the above image, in spite of the price stability within the bullish channel levels, but the current barrier represents a main factor for detecting the true trend in the upcoming period.

The continuation of the price fluctuation below this resistance will force it to form a bearish correctional trading, to suffer some losses by reaching 142.40 then 140.20, while its success to step above this resistance will reinforce the bullish track, to ease the mission of reaching 145.30, to form the main positive target in the near and medium period.

The expected trading range for today is between 142.40 and 145.30

The expected trend for today: Bullish