The GBPJPY seeks the positive momentum – Analysis – 10-7-2020

The GBPJPY pair lost its positive momentum yesterday, which pushed the price to decline from 135.90 level and settles below the moving average 55, led by the price attempt to gather the additional positive momentum to expect testing 133.70 level followed by starting to renew the bullish attempts and target 135.20 level initially, followed by attempting to press on 136.65 barrier.

The risks of changing the bullish track will appear in case the price crawled below the bullish channel’s support line, located now at 133.15, to force it to suffer many losses by declining towards 132.30 and 129.90 levels.

The expected trading range for today is between 133.80 and 135.20

The expected trend for today: Bullish