GBPJPY - Technical Analysis: Friday, 28/08/2015 06:10 GMT
The pair is organized inside the long term bullish channel, moving now near this channel’s support, waiting to bounce upwards and resume the main bullish wave.
Stochastic is positive now and supports the expectations of witnessing positive trading in the upcoming period, waiting to get a positive overlapping signal on MACD to reinforce the expected bullish trend.
Breaching 189.15 then 191.25 will form good positive factor that adds more support to the waited rise, on the other hand, breaking 182.50 will stop the bullish wave and push the price to start a bearish correctional trip on the short term basis.
Trend
Bullish