The GBPJPY postpones the bullish attack – Analysis – 19-3-2019

The GBPJPY pair failed to form any new bullish rally yesterday affected by the stability of 148.60 barrier to force the price to form intraday negative rebound by touching 147.00 level, expecting to confine the price within sideways range between 147.00 support and the 148.60 resistance, to remain neutral until detecting the next targets.

Crawling below the current support will increase the chances of forming new correctional bearish trades to suffer additional losses by moving towards 146.30 level, while succeeding to breach the resistance will reinforce the continuation of the positivity that targets 149.60 followed by 150.30 levels.

The expected trading range for today is between 147.30 and 148.60

The expected trend for today: Neutral