Daily analysis of GBP/JPY for January 23, 2018 23.01.2018

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Exchange Rates 23.01.2018 analysis

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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Hossam Soliman Ali,
Analytical expert
InstaForex Group © 2007-2018

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