The GBPJPY settles above the additional support – Analysis – 16-7-2021

The GBPJPY pair succeeded to provide new positive closings by settling above the additional support 151.80, confirming the attempt to renew the bullish attack, also, the fluctuation of the moving average 55 below the current price confirms blocking the price within the bullish track, to expect targeting 153.40 obstacle soon, while surpassing it will extend trades towards 154.40 and 155.30 levels.

Note that the price attempt to crawl below the current support will postpone the bullish attack and force the price to suffer some losses by moving towards 150.30 before recording any new positive target.

The expected trading range for today is between 151.80 and 153.40

The expected trend for today: Bullish