GBPJPY achieves the initial correctional target– Analysis – 11-1-2018

The GBPJPY pair confirmed affection by the bearish correctional domination by providing new close below 152.85 level and achieving the initial correctional target at 150.50, we expect forming an extra negative attack by the continuation of the negative pressures in the near and medium period, to attempt to test the moving average 55 at 149.60.

Stochastic stability within the oversold level confirms the bearish correctional bias domination by providing extra negative momentum, to ease the attempt of achieving the mentioned negative target.

Expected trading range for today is between 151.10 and 149.60

Expected trend for today: Bearish