GBPJPY gets ready to decline – Analysis – 1-9-2017

The GBPJPY pair kept its stability below the moving average 55, which forms an initial resistance at 142.85 to support the attempt of regaining the bearish bias in the near period, the stability of the price below the main resistance at 143.30 reinforces our bearish expectations to keep waiting for reaching 140.30 initially, to extend the losses to 138.50, which forms the next main target in the upcoming period.

Stochastic remains stable within the overbought level to support the intraday sideways fluctuation, reminding you that it forms bearish wave and it decline below 80 level open the way for gaining the negative momentum and begin recording the suggested targets.

Expected trading range for today is between 142.85 and 140.30

Expected trend for today: Bearish