Daily analysis of GBP/JPY for November 21, 2017

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Overview

The GBP/JPY pair confirmed the bullish trend by forming a new bullish wave to move away from the support at 147.35. The price gains momentum from the stability of the moving average 55 near the current support, which increases the possibility of renewing the bullish attack. The first upward target could be 150.00, then we should wait for the next target at 151.50. Stochastic's form to a bullish rally above 50 level reinforces the bullish bias domination, opening the way towards extra momentum that confirms the attempt of recording the mentioned targets. The expected trading range for today is between 148.40 and 150.00

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