The GBPJPY surpasses the initial target – Analysis – 05-12-2019

The GBPJPY pair exits from its sideways stability by forming a strong bullish wave, reinforcing the bullish bias domination, to notice surpassing the initial target at 142.60, we expect the continuation of providing positive momentum by the positive momentum, forming a new positive rally makes the price attempt to press on 143.80 level in order to find an exit to resume the bullish trading in the upcoming period.

We expect forming an extra support at 141.50 level, to confirm the trading confinement within the bullish range, which increases the chances for reaching the suggested next station.

The expected trading range for today is between 141.90 and 143.80

The expected trend for today: Bullish