Overview
The GBP/JPY pair repeated the sideways trading recently by settling above the key support 147.35, affected by the continuous contradiction between the major indicators until this moment. We remind you that resuming the bullish attack urges gathering new bullish momentum to manage to reach the first target at 150.00 followed by the price movement extending towards 151.50 as expected previously. The above chart shows stochastic's attempt to form the new positive wave, expecting to rally above 50 level to get the required positive momentum to confirm the continuation of the waited positivity. The expected trading range for today is between 147.35 and 150.00
The material has been provided by InstaForex Company - www.instaforex.com
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