The GBPJPY fluctuates within the bullish channel – Analysis – 14-7-2020

The GBPJPY pair failed to breach 135.20 level, which pushed the price to form intraday negative rebound and face the moving average 55 at 134.50, while stochastic current decline below 50 level might push the price to test the bullish channel’s support line at 133.45 to increase the chances of gathering the additional positive momentum.

Therefore, we will keep our main bullish overview, hinting that succeeding to gain the additional positive momentum will allow the price to renew the pressure on 135.20 level, while surpassing it will push the price towards 50% Fibonacci correction level at 136.65.

The expected trading range for today is between 133.80 and 135.20

The expected trend for today: Bullish