The GBPJPY needs new positive momentum – Analysis – 5-1-2021

The GBPJPY pair continued to provide mixed sideways trades despite its stability within the bullish channel, affected by stochastic negativity, reminding you that it is important to monitor the price behavior in case reaching the additional support at 139.30 that will detect the next main trend.

We remind you that the stability of the mentioned support will increase the chances of gathering the positive momentum, to expect forming new bullish rally in order to reach 141.80 initially, while crawling below this support will force the price to form correctional bearish rebound and suffer intraday losses that start at 137.95.

The expected trading range for today is between 139.30 and 141.80

The expected trend for today: Bullish