FX.co ★ Daily analysis of GBP/JPY for December 09, 2016

Overview

The GBPJPY pair did not record any new positive level affected by the contradiction of the major indicators, thus holding above the initial support at 143.00. In general, given fluctuations above the main support at 140.00, we expect the pair to gain strong positive momentum followed by moving towards 146.60 then 148.25. We remind you that that an attempt to decline below the initial support will postpone the bullish overview and start forming correctional bearish bias until testing 140.00. The expected trading range for today is between 143.00 and 146.60.