Overview
No news for the GBP/JPY pair has been released until this moment. So the pair is trading sideways in the range between the 145.45 resistance and the 143.30 support. Meanwhile, the contradiction of the major indicators confirms the domination of the sideways bias in the short term. So we are waiting until the pair provides new signal by breaching one of the main levels. Only after that, traders will be able to determine main targets for the near term. We remind you that breaching the current resistance will reinforce the bullish bias for the upcoming trading. New positive targets are seen starting from 147.00. On the other hand, a decline below the 143.30 support will put the price under the bearish pressure and push it to suffer more losses by reaching 142.20 followed by 140.15. The expected trading range for today is between 143.30 and 145.45
The material has been provided by InstaForex Company - www.instaforex.com