GBPJPY fluctuates below the resistance – Analysis – 28-3-2017

The GBPJPY price kept its negative stability below 139.30 level, which forms the extension of the initial resistance that appears in the above image, therefore, we will keep waiting until gathering strong negative momentum that allows it to begin recording the negative targets that begin at 137.75 reaching to 136.60 in the medium period.

The stability of the moving average 55 above the current trading, to confirm the continuation of the negativity, which agrees with stochastic attempt to surpass the overbought level that provides the required negative momentum for achieving the waited targets.

Expected trading range for today is between 139.30 and 137.75

Expected trend for today: bearish.