GBPJPY keeps suffering losses – Analysis – 16-1-2017

The GBPJPY get enough to record the negative target at 137.50, to notice by the above image providing negative close below it to surpass 50% Fibonacci correction level, which supports more of the negative attempts in the upcoming period that allows it to hit the critical support that located at 135.30.

Stochastic return to settle within the oversold level increases the negative pressure on the price trading, which provides strong negative momentum until reaching the suggested target.

Expected trading range for today is between 137.50 and 135.30

Expected trend for today: bearish.