The GBPJPY begins the positive correction – Analysis – 15-4-2019

The GBPJPY pair hinted the tend to form some correctional bullish trades due to its rally above the initial resistance recently, which forms an extension to the intraday support line at 146.20, also, stochastic approach to the overbought areas eases the attempt to gather the positive momentum, to support our bullish overview for the upcoming period and targets 147.20 level followed by reaching the key resistance at 148.10.

On the other hand, gathering strong negative momentum and attempting to crawl below 146.20 level will increase the chances of forming strong negative trades, to repeat the pressure on 144.70 level, and breaking it might extend trades towards 143.80 on the medium term basis.

The expected trading range for today is between 146.20 and 147.20

The expected trend for today: Bullish