GBPJPY affected by the major indicators' contradiction – Analysis – 26-9-2017

The GBPJPY pair affected by clear contradiction between the main indicators to gain an intraday negative momentum by stochastic decline, to reach the initial support at 150.00 level, we expect forming extra sideways trading until gathering new positive momentum then repeat the attempts for surpassing the barrier at 152.80, and begin achieving new targets as we expected previously.

While the price attempt to break the initial support will confirm forming bearish correctional bias in the upcoming period, to reach 147.80 before achieving any new positive target, therefore, we recommend monitoring today’s trading to avoid any losses that might be caused by changing the main track.

Expected trading range for today is between 150.00 and 152.80

Expected trend for today: Bullish