Daily analysis of GBP/JPY for January 04, 2018

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Overview

The GBP/JPY pair did not show any big moves until this moment by settling below 152.85 levels that continue to block the bullish attempts. Thus, the price will remain affected by the sideways bias domination until the required breach that will confirm rallying towards more targets that reach 154.45 followed by 155.90. We remind you that failing to achieve the required breach will pave the way for correctional negative trading, expecting to target 151.50 followed by 150.00 and approaching the moving average 55. The expected trading range for today is between 151.50 and 154.45.

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