GBPJPY confirms the new positivity – Analysis – 21-9-2018

The GBPJPY pair managed to provide new positive trades yesterday by surpassing the bearish channel’s resistance at 147.85, to confirm the domination of the bullish bias by recording 149.70 level, while forming new support at the breached resistance allows us to expect renewing the bullish attempts to target 150.40 level in the near term period, while surpassing it will extend trading towards 151.85, attempting to cover the previously achieved gap.

Stochastic attempt to exit the overbought areas might force the price to provide some sideways trading to keep waiting to gather new positive momentum followed by renewing the attempts to reach the mentioned targets.

Expected trading range for today is between 148.35 and 150.40

Expected trend for today: Bullish