GBPJPY crawls negatively – Analysis – 7-3-2017

The GBPJPY price crawls to the downside showing the affection of the bearish bias domination, to notice reaching 139.25 to move away from the bearish channel’s resistance that located currently at 140.30, therefore, we will keep waiting for providing negative pressure on the support at 138.80, reminding you that breaking this level will open the way towards recording the negative targets, and 137.60 level represents the bearish bias.

The stability of the moving average 55 near the main resistance confirms the price confinement within the negative range, accompanied with stochastic attempt to provide negative momentum, which ease the attempt of recording the suggested targets.

Expected trading range for today is between 139.80 and 138.80

Expected trend for today: bearish.