The GBPJPY tests the major support – Analysis – 9-9-2020

The GBPJPY pair suffered big losses to reach 137.05, to face the main bullish channel’s support, accompanied with the moving average 55 fluctuation near it.

the upcoming scenario depends on the strength of the current support, and its stability makes us expect forming bullish trading, which might push it to reach 138.60 and 139.80, while the continuation of suffering negative pressures and reaching below the current support, so that will confirm its move to the negative track, and that forces it to suffer several losses which might begin at 135.90 and 134.80.

The expected trading range for today is between 137.00 and 138.55

The expected trend for today: Bullish