Overview
In spite of the GBPJPY price stability above the initial support at 145.45 levels, we notice the slowness of the bullish trading due to a lack of bullish momentum until this moment. We expect a positive crawl until gaining the required momentum, which allows it to push the barrier at 148.45. The price is likely to breach this level recording new targets that begin at 15.35. We should mention that the price attempt to decline below the current support will delay the bullish rally, which forces it to provide an intraday negative correction until testing the 23.6% Fibonacci correction level at 143.30. The expected trading range for today is between 146.05 and 150.35.The material has been provided by InstaForex Company - www.instaforex.com