GBPJPY compensates the losses – Analysis – 6-4-2017

The GBPJPY price didn’t settle for long time below 137.60 level, to compensate the losses by its rally to 139.00, but the negativity of the main indicators provided negative support to settle again near the support level as appears in the above image, also the price fluctuation below the main resistance at 139.80 makes us keep preferring the dominant negativity in the upcoming period, to wait for providing new negative close below 137.60, which allows it to record the negative targets by reaching 136.35 and 135.05.

Therefore, we should monitor the price behavior until providing the required negative close to avoid any attempt to form a new bullish correction that might cause intraday losses when reaching the mentioned resistance.

Expected trading range for today is between 138.80 and 136.35

Expected trend for today: bearish.