GBPJPY affected by the indicators’ contradiction – Analysis – 1/7/2015

The GBPJPY pair couldn’t place any new negative targets since yesterday, affected by the contradiction of the major indicators, as the moving average continues to block the price within the negative level, while we notice that stochastic attempts to form positive wave by leaving the oversold area.

Therefore, we expect to witness more sideways actions until getting new negative momentum to support the attempt to reach the waited target around 190.85.

Expected trading range for today is between 193.50 and 190.85

Expected trend for today: Fluctuated bearishly