GBPJPY keeps the negative attempts – Analysis – 3-1-2017

The GBPJPY touched the minor bearish channel’s resistance at 144.60, to begin bouncing lower in attempt to confirm the bearish correctional overview, therefore, we will keep waiting for forming new negative attack that targets 142.80 level reaching to the support at 141.70.

Stochastic surpass to the overbought level confirms surpassing the positive pressures, which provides the required negative momentum to form the negative trading as we mentioned previously.

Expected trading range for today is between 144.60 and 142.80

Expected trend for today: bearish.