The GBPJPY needs new positive momentum – Analysis – 6-8-2020

2020-08-06 05:21:21 GMT (

The GBPJPY pair provided frequent sideways fluctuations by settling near 138.60, affected by stochastic attempt to exit the overbought areas, to block the previously waited bullish attack.


On the other hand, the continuous stability within the bullish channel besides 137.70 level forming additional support allow us to keep our bullish overview that targets 139.60 level initially, followed by reaching 140.85 on the medium term period.


The expected trading range for today is between 137.70 and 139.60


The expected trend for today: Bullish

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