GBPJPY still positive – Analysis – 12-10-2018

The GBPJPY pair confirmed keeping the bullish bias domination by providing new positive close around 148.75 level, while the stability of the initial support 147.75 supports the attempt to gather new positive momentum to manage to reach the initial barrier at 149.78, and breaching this barrier will confirm targeting new positive levels that start at 150.45 followed by 151.90.

The stability of the moving average 55 besides stochastic attempt to form bullish wave increase the chances of gathering the required positive momentum to start recording the waited targets.

Expected trading range for today is between 147.75 and 149.78

Expected trend for today: Bullish