The GBP/JPY price failed to settle above 145.45. It would be viewed as a good barrier against the bullish attempts that would provide sideways fluctuation. If stochastic surpasses the overbought level, it will make the price lose its bullish momentum in the current trading. As the pair is expected to trade in a sideways manner, there is a good chance for testing the initial support at 143.30. So we can suggest the neutral bias if the main levels are settled. The solution is to keep waiting until the pair gains the bullish momentum that allows it to confirm the breach. Later, the pair could extend its gains that begin at 146.30 aiming at the recent high of 148.45. The expected trading range for today is between 143.35 and 145.45
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The GBP/JPY price failed to settle above 145.45. It would be viewed as a good barrier against the bullish attempts that would provide sideways fluctuation. If stochastic surpasses the overbought level, it will make the price lose its bullish momentum in the current trading. As the pair is expected to trade in a sideways manner, there is a good chance for testing the initial support at 143.30. So we can suggest the neutral bias if the main levels are settled. The solution is to keep waiting until the pair gains the bullish momentum that allows it to confirm the breach. Later, the pair could extend its gains that begin at 146.30 aiming at the recent high of 148.45. The expected trading range for today is between 143.35 and 145.45
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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