GBPJPY declines towards the first target – Analysis – 9-11-2016
Economies.com
2016-11-09 09:32AM UTC
The GBPJPY pair confirmed the affection of the bearish bias domination by getting frequent closes below 130.00 resistance, noticing reaching the first target at 126.70, which confirms the continuation of the negativity, waiting to reach new negative targets by reaching 124.80 followed by attempting to touch the main target around 120.90.
Stochastic decline from the overbought areas and settling below 50 level increases the negative pressure and provide the required negative momentum to achieve our targets.
Expected trading range for today is between 128.60 and 124.80
Expected trend for today: Bearish
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