GBPJPY achieves the initial target – Analysis – 12-1-2017

The GBPJPY price affected by the domination of the bearish bias, to notice its sharp decline yesterday and achieving the first target at 140.00, besides providing negative close below the initial target makes us keep preferring the negative domination, reminding you that the next target located at 138.90, to expect testing 50% Fibonacci correction level that located at 137.45 currently.

Stochastic attempt to reach the oversold levels reinforces the negative suggestion, which provides strong negative momentum that allows it to record the suggested targets.

Expected trading range for today is between 140.40 and 138.90

Expected trend for today: bearish.