Daily analysis of GBP/JPY for July 10, 2017

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Overview

The GBP/JPY price kept its positive stability near 147.65 level. Looking at the chart, we notice the pair's attempt to form a double top pattern, which supports the continuation of the overall bullish in the short term. We expect targeting 38.2% at 150.95 by a breach. The continuation of the positive pressure will make it head for new upward targets from 152.75. If stochastic surpasses the overbought level, it might force the price to provide intraday sideways trading until the pair gathers the bullish momentum. This will simplify the required breach and then will hit the above-mentioned targets. The expected trading range for today is between 146.10 and 149.40

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