Daily analysis of GBP/JPY for February 07, 2018

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Overview

The 55 moving average carried on forming additional support at 151.00 to confirm the GBP/JPY pair's affection by the bullish bias for the near- term and medium-term trades. Thus, we are still waiting for new chances of gaining the bullish momentum. Then, we can expect the main targets starting from 153.50, followed by 50% Fibonacci correction level at 156.00. We remind you that attempts to crawl below the current support will force the price to suffer additional losses by targeting 149.35, followed by 148.25 levels to face 38.2% Fibonacci correction level. The expected trading range for today is between 151.00 and 153.50

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