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26.01.201817:04 Forex Analysis & Reviews: Daily analysis of GBP/JPY for January 26, 2018

Long-term review

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Overview

The GBP/JPY pair failed to surpass 50% Fibonacci correction level at 155.90. Now the conditions for intraday sideways trading have been created. The stability of this barrier will push the price to start trading with a negative bias. It would be a good idea to set target levels at 153.50, followed by 152.85. On the other hand, a new bullish attack needs to breach the current barrier to pave the way for more positive targets by reaching 157.45 followed by 159.80. The expected trading range for today is between 154.80 and 157.45

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