GBPJPY delays the bullish attack – Analysis – 31-1-2017

The GBPJPY pair under strong negative pressures that forces it to decline below the initial support at 143.20, to delay the bullish overview and to suffer intraday losses by reaching 141.60, we expect the continuation of the price fluctuation in the current period until testing the support at 140.80, attempting to gather new positive momentum that leads the price to renew the bullish attack, to attempt to surpass 143.20 level.

Stochastic attempt to surpass the oversold level decreases the negative pressure on the trading, attempting to provide new positive momentum that assists the price to regain the bullish bias.

Expected trading range for today is between 140.80 and 143.20

Expected trend for today: Fluctuated within the bullish range