FX.co ★ Daily analysis of GBP/JPY for December 28, 2016

Overview

The GBPJPY price provided a new positive close above the support level of 143.25 increasing the chances for regaining the expected bullish bias. Therefore, we will keep waiting for the price attraction to 146.60 levels, and a breach of it will confirm the extension of the recorded top at 148.25 to form the second target for the near and medium period. Note that the price attempt to decline below the current support and providing negative close will return the bearish correctional attempts to 140.35. The expected trading range for today is between 143.25 and 146.60.