GBPJPY begins to gain the momentum – Analysis – 23-10-2016
Economies.com
2016-10-24 07:04AM UTC
The GBPJPY price kept its negative stability below the resistance at 129.60 in the last trading, to begin gathering the negative momentum by stochastic decline below 50 level, which reinforces the domination of the negativity, to wait for the price to reach the first target at 124.60, where breaking it will confirm its attraction to the second target that located at 120.90.
The continuation of forming a negative decline by stochastic reinforces negative pressures, to provide the price by an extra negative momentum to increase the chances for the price to reach the suggested targets.
Expected trading range for today is between 128.15 and 124.60.
Expected trend for today: bearish.
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