GBPJPY keeps the negativity – Analysis – 28-8-2017

In spite of stochastic positive rally above 50 level, but we notice the stability of the GBPJPY pair price within the negative range by its repeated stability below the main resistance at 143.80 level for today, also 141.20 level forms extra barrier that makes us wait for gathering new negative momentum, to begin recording the negative targets by reaching 138.50 and 135.50.

The stability of the moving average 55 above the current trading adds some negative pressures to confirm the continuation of the negative attempts, stochastic approach from 80 level confirms surpassing the positive pressures, to open the way towards gathering the required negative momentum.

Expected trading range for today is between 141.20 and 138.50

Expected trend for today: Bearish