Daily analysis of GBP/JPY for June 22, 2017

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Overview

The GBP/JPY price keeps resisting negative pressure settling clearly above the main support at 139.10, which increases the chances for regaining the bullish bias in the near future. To confirm the bullish trend, the price needs to breach the moving average 55 at 141.50, reaching initial targets at 143.35 and145.45 levels in the upcoming period. Stochastic stability below 50 levels will decelerate the bullish attempts in the current period. The price is likely to show more sideways trading until gaining the required positive momentum and achieving the suggested targets. The expected trading range for today is between 139.40 and 142.20.

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