For Traders

Analytical Reviews

Technical analysis

23.01.201814:13 Forex Analysis & Reviews: Daily analysis of GBP/JPY for January 23, 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 is still gaining momentum. The bullish bias is confirmed by rallying towards 155.33 level recently. Besides, we will depend on 152.85 level, forming a good support base. Let me remind you that the first main target is located around 155.90, but further positive pressures might allow the price to reach the next target at 157.45. A stochastic's attempt to crawl towards the overbought areas also confirms the overall bullish trend. A new positive momentum eases attempts to reach the suggested targets. The expected trading range for today is between 153.50 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.