09.05.201812:32 Forex Analysis & Reviews: Daily analysis of GBP/JPY for May 09, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Overview

The GBP/JPY pair confirmed the domination of the bullish bias by forming a new positive trend and its stability above the bullish channel's support at 146.90. Stochastic's rally to 50 level assists to provide the required positive momentum, to confirm the positive continuation that might push the price to achieve extra targets by reaching 148.90 and 150.80. Note that suffering extra negative pressures and attempt to reach below the main current support, so that will increase the chance to change the main trend and begin building negative trading to suffer big losses that might begin from 146.25 and 145.30. The expected trading range for today is between 147.40 and 148.90

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.