GBPJPY is forced to postpone the negative attack – Analysis – 30-8-2017

The GBPJPY pair faced clear contradiction between the major indicators to be affected by stochastic positivity that rallies towards the overbought areas, to postpone the negative attack by consolidating above 141.20 level, while the near term trading might extend to test the moving average 55 around 142.85 that forms additional barrier against the bullish fluctuation to increase the chances of regaining the expected bearish bias.

These factors allow us to keep our bearish overview, noting that stochastic attempt to exit the overbought areas will add new negative factor that assists to renew the pressure on 140.30 level followed by extending losses towards the main target around 138.50.

Expected trading range for today is between 142.85 and 140.30

Expected trend for today: Fluctuated within the bearish range