GBPJPY resumes the negative crawling – Analysis – 23-12-2016

The GBPJPY pair provided more correctional bearish attempts yesterday by reaching 144.10 level, to agree with the bearish overview that depends on the stability of 146.60 barrier, while we remind you that the first correctional target is located at 143.25, to assure the importance of monitoring the price behavior when reaching this level until detecting the right trend for the upcoming period.

Stochastic attempt to reach the oversold areas increases the negative pressure and provide the required momentum to resume the correctional bearish attempts, also, we should note that the continuation of pressure and attempting to break the waited level might open the way to suffer more losses that reach towards 140.40 in the upcoming period.

Expected trading range for today is between 145.60 and 143.25

Expected trend for today: Bearish