GBPJPY is confused – Analysis – 30-11-2016

The GBPJPY price provided mixed trading yesterday affected by the contradiction between the main indicators, to settle at 140.60 level, we notice the price attempt to rally above the bearish channel’s resistance, but we couldn’t confirm these bullish attempts unless it provides positive close in the daily period.

Therefore, we recommend the neutrality of the trading for today, to wait for the required daily close to detect the main trend in the upcoming period, note that the price success to confirm the positivity will open the way towards recording gains by reaching 143.20 reaching to 148.35, while its stability within the bearish channel will increase the negative pressure on the upcoming trading, attracted to 135.00 level.

Expected trading range for today is between 138.60 and 143.20

Expected trend for today: neutral