Daily analysis of GBP/JPY for July 29, 2016

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Overview

The GBPJPY price repeated its attempts to test the main support located at 135.50 keeping positive stability. The awaited bullish attack to attempt to settle at 142.30 is likely to unfold. The first target is located at 140.00. You should be aware that any sudden negative pressure might force the price to break the current support and return to the negative track by settling within the bearish channel's levels. The expected trading range for today is between 135.50 and 140.00.

The material has been provided by InstaForex Company - www.instaforex.com
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