Daily analysis of GBP/JPY for December 13, 2017

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Overview

The GBP/JPY pair has been trading in the same manner of extra mixed trading due to the several closes below 152.85 barrier. The bullish rally has been delayed until this moment. The contradiction between the main indicators forces the price to settle between the initial support at 150.00 and the mentioned barrier until the required bullish momentum is gained. Then, positive targets could be achieved. Therefore, we recommend staying aside for today until the initial support is tested that allows the price to gather new bullish momentum. Then, we expect the beginning of a preferred bullish trading, so that we suggest upward targets at 152.85 and further at 154.45. The expected trading range for today is between 150.00 and 152.85

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