For Traders

Analytical Reviews

Technical analysis

19.01.201818:02 Forex Analysis & Reviews: Daily analysis of GBP/JPY for January 19, 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 provided a new positive close recently above 153.70 level to confirm the domination of the bullish bias. The pair is expected to resume the expected positive attack. The stochastic has reached the overbought level that eases the way towards gaining extra momentum. The pair is to achieve more of the targets by reaching 155.90 initially, which forms 50% Fibonacci correction level. We should mention that the price tried to reach below 153.70 level that might force it to delay the bullish rally. This move maks the pair suffer some gains by attempting to test the initial support at 151.50. The expected trading range for today is between 153.70 and 155.90

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.