Daily analysis of GBP/JPY for November 24, 2016

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Overview

The GBPJPY pair opened its trading with a strong bullish wave that allows it to achieve the awaited target at 140.40. The current level forms an extension of the bearish channel’s resistance, forming the key line between resuming the bullish attack and its stability within the negative range. Therefore, we recommend being neutral for the trading today until the true trend is confirmed in the upcoming period. A positive close above the current resistance will help the price make new gains that might begin at 141.60 reaching to 143.10. The expected trading range for today is between 137.60 and 141.60.

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

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