GBPJPY challenges stochastic negativity – Analysis – 30-10-2017

The GBPJPY pair was forced to provide new sideways trading affected by the contradiction of stochastic negativity against holding above 149.10 initial support, expecting to get rid of the negative pressures soon due to stochastic approach from the oversold areas, to provide the price with new positive momentum and start recording the waited targets around 152.85 and 155.20.

We should note that breaking the initial support will postpone the bullish rally on the intraday basis until testing the next support around 147.30 followed by renewing the bullish rally attempts and achieve the waited targets.

Expected trading range for today is between 149.10 and 152.85

Expected trend for today: Bullish