GBPJPY renew the positivity – Analysis – 8-10-2018

The GBPJPY pair succeeded to gain new positive momentum to notice forming bullish rally by surpassing the first target at 149.00, while in general, the bullish overview will remain valid as long as the key support remain intact at 147.15, which its stability decreases the chances of settling within the bearish channel again.

Note that stochastic provides the additional positive momentum by reaching the overbought areas, to increase the chances of resuming the bullish attack and expect to touch 149.65 level first, followed by pressing on 150.45 barrier.

Expected trading range for today is between 148.65 and 150.45

Expected trend for today: Bullish