GBPJPY attempts to crawl negatively – Analysis – 26-10-2016

Despite lacking the negative momentum, but we notice the GBPJPY pair's attempt to form negative crawling in the recent trading by reaching 126.80 level, which supports the main bearish overview, reminding you that it is important to hold below 129.60 resistance to force the price to provide new negative attack and attempt to reach our targets at 124.60 followed by 120.90.

Stochastic stability above 50 level forms the main factor to slow the current trading, to keep waiting to provide strong negative wave that allows the price to gather the required momentum followed by starting to record our expected targets.

Expected trading range for today is between 128.15 and 124.60

Expected trend for today: Bearish