GBPJPY keeps the bearish attempts – Analysis – 12-6-2017

The GBPJPY price remains affected by the negative pressures by its stability below the moving average 55 at 141.70, to form strong barrier against the last fluctuation, to notice the stability of the price near 38.2% Fibonacci correction level, we wait for gathering the negative momentum, to confirm targeting new negative levels that begin at 139.00 reaching the next main target at 137.65 level.

The stability of stochastic near 20 level confirms the dominant negativity, which increases the negative pressure to ease the price attempt to resume the bearish attack until achieving the suggested targets.

Expected trading range for today is between 141.70 and 139.00

Expected trend for today: Bearish