GBPJPY is weak – Analysis – 05-10-2016

Despite the stability of the GBPJPY pair clearly above 129.60 support, but we notice the weak bullish attempts due to the negative pressures that come by the major indicators, while we remind you that our bullish overview will remain valid as long as the current support remains intact, waiting to rally towards 134.20 followed by 136.60 targets.

We remind you that falling under strong negative pressures and attempting to settle below the mentioned support will cancel the bullish overview to turn back to the bearish bias and target 128.70 followed by 125.60 levels.

Expected trading range for today is between 129.60 and 134.30

Expected trend for today: Bullish