Daily analysis of GBP/JPY for August 03, 2017

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Overview

Despite the frequent positive trading provided by the GBP/JPY pair recently, but we notice its move within tight range between 145.40 support and 147.60 resistance, while stochastic approach from 80 level allows us to suggest more bullish attempts until touching the key resistance followed by monitoring the price behavior to detect the main trend for the upcoming period. We remind you that breaching the key resistance will confirm the bullish bias domination for the upcoming trading and expect to target 149.80 followed by 150.95 levels. The expected trading range for today is between 145.60 and 147.60.

The material has been provided by InstaForex Company - www.instaforex.com