FX.co ★ Daily analysis of GBP/JPY for February 22, 2017

Overview

The GBP/JPY price stopped trading in negative territory by recording the awaited target at 140.30 beginning positive trading with its rally to 142.10 confirming its affection by the domination of the main bullish bias. Surpassing the barrier at 142.50 is important for opening the way towards more of the targets that begin at 144.80 and 145.45. The stability of the moving average 55 above the critical support increases the positive pressure on the price, to agree with stochastic rally above 50 level, to provide the required positive momentum, to resume the expected bullish rally. The expected trading range for today is between 141.20 and 144.80.