FX.co ★ Daily analysis of GBP/JPY for July 20, 2017

Overview

The GBP/JPY pair touched the 145.00 barrier yesterday and is rebounding now to show some bullish bias now, while the negative pressure is still valid as long as the price is stable below 147.65. This move is supported by the negative signal provided by stochastic, waiting to visit 144.00 followed by 142.65 levels that represent our main targets. Note that breaching 147.65 will turn the short-term trend to rise and head towards 150.96 as the first main target. The expected trading range for today is between 147.00 and 144.00