The GBP/JPY pair lost its positive momentum, which forces it to provide new sideways trading, approaching the support at 147.35. The stability of the moving average 55 near this support increases its strength against the current trading, which decreases the possibility of suffering new unexpected losses. Therefore, we will keep waiting for gathering new positive momentum that allows it to renew the bullish attempts, targeting 150.00 level initially reaching to 151.50 in the upcoming period. The expected trading range for today is between 147.40 and 150.00
The material has been provided by InstaForex Company – www.instaforex.com
Overview
The GBP/JPY pair lost its positive momentum, which forces it to provide new sideways trading, approaching the support at 147.35. The stability of the moving average 55 near this support increases its strength against the current trading, which decreases the possibility of suffering new unexpected losses. Therefore, we will keep waiting for gathering new positive momentum that allows it to renew the bullish attempts, targeting 150.00 level initially reaching to 151.50 in the upcoming period. The expected trading range for today is between 147.40 and 150.00
The material has been provided by InstaForex Company – www.instaforex.com
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