GBPJPY provides negative signal – Analysis – 23-3-2018

The GBPJPY pair returned to provide new negative trading by crawling below the moving average 55, reinforcing our previous expectations to resume the correctional bearish bias, reminding you that the first target is located at 147.25, while the continuous negative pressure will extend losses to push on the key support at 145.70.

The stability of the key resistance 150.80 supports our bearish overview, to notice stochastic release from the overbought areas and increase the chances of gathering the negative momentum to start forming the waited bearish attack.

Expected trading range for today is between 149.50 and 147.25

Expected trend for today: Bearish