GBPJPY might move towards the resistance – Analysis – 4-11-2016

The GBPJPY lost its negative momentum yesterday to start forming clear positive rebound by reaching 128.70, while the positive fluctuations are caused by Stochastic rally above 50 level, to postpone the negative until touching 130.00 resistance level.

In general, the stability of the mentioned resistance supports the continuation of the negativity for the upcoming period, reminding you that the first target is located at 124.60, while attempting to breach this resistance will postpone the negative attempts to extend trading bullishly towards 133.00 that forms solid obstacle against the bullish attack.

Expected trading range for today is between 130.00 and 126.40

Expected trend for today: Fluctuated within the bearish level