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24.04.201717:28 Forex Analysis & Reviews: Daily analysis of GBP/JPY for April 24, 2017

Long-term review

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Overview

The GBP/JPY pair formed a positive price gap to surpass the barrier at 141.10 and to reach the initial target at 141.80. This reinforces our bullish expectation for the short term. So, we expect the pair to resume bullish attempts until hitting the next target at 143.35 to face 23.6% Fibonacci correction level. We notice that stochastic surpasses the overbought level, which forces the pair to provide an intraday sideways trading until gaining the bullish momentum. Then, the pair is likely to resume the positive trend until achieving the suggested target. The expected trading range for today is between 141.10 and 143.35

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