Daily analysis of GBP/JPY for May 19, 2017

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Overview

The GBPJPY pair holds above the support at 143.30, which increases the possibility of a bullish attack in the near and medium period. The price needs to surpass the moving average 55 at 144.60 to confirm domination of sideways trading and the price will be likely to record the positive targets at 145.45 and 147.00. Stochastic rallies positively above 50 levels, reinforcing our bullish suggestion and to providing new positive momentum to help the price attempt to breach the moving average 55 and reach the suggested targets. The expected trading range for today is between 143.30 and 145.45.

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