Daily analysis of GBP/JPY for November 25, 2016

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Overview

The GBPJPY pair resumed its bullish rally yesterday surpassing the bearish channel’s resistance around 140.10 today and attempting to start forming new bullish bias. The price needs to settle above the breached resistance starting to record some gains by reaching 141.60 followed by 143.10 levels to confirm bullish attempts. Stochastic stability within the overbought areas will increase the positive pressure on current trading and provide new positive momentum to confirm the attempt to reach the previously suggested targets. The expected trading range for today is between 140.00 and 141.60.

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

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