The GBPJPY affected by the major indicators’ contradiction – Analysis – 22-5-2019

The GBPJPY pair repeated the positive closings above 139.50, affected by the contradiction of stochastic positivity with the negative stability within the bearish channel, also, the price attempt to fluctuate above 140.40 will increase the chances of forming correctional bullish rebound to repeat the pressure on 141.25 level, and surpassing this level might extend trading towards 142.20 in the upcoming period.

These factors allow us to suggest the bullish attempts depending on the stability of 139.50 support line, while breaking this support and getting negative close will confirm the attempt to renew the negative attack to suffer many losses by moving towards 139.10 and 138.40 levels.

The expected trading range for today is between 139.55 and 141.20

The expected trend for today: Bullish