Daily analysis of GBP/JPY for April 25, 2018



The GBP/JPY pair succeeded to achieve the initial positive target at 152.45 yesterday, confirming its affection by the main bullish bias domination. Stochastic rally above the 50 level opens the way towards gathering new positive momentum, to confirm the continuation of the positivity, to keep waiting for surpassing the 153.65 level and achieving the second main target at 154.10. Reminding you that the main suggestion is valid by the stability of the price within the main bullish channel, also the stability of the moving average 55 below the current trading shrinks any possibility to form negative correctional trading, attempting to provide extra positive momentum until reaching the suggested targets. The expected trading range for today is between 151.65 and 154.10.

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