The GBPJPY forms new bullish channel – Analysis – 14-4-2020

The GBPJPY pair reinforced the bullish track by forming minor bullish channel that its main support located at 134.70 as appears on the chart, noticing the beginning of rallying positively to settle around 135.30, taking advantage of the positive momentum caused by stochastic reach above 50 level besides the consolidation of the moving average 55 near the mentioned main support.

Therefore, we will continue to suggest the bullish trading, reminding you that the first target is located at 135.80, while surpassing it will extend trades towards 61.8% Fibonacci correction level at 137.00.

The expected trading range for today is between 134.70 and 135.80

The expected trend for today: Bullish