GBPJPY returns to the negative range – Analysis – 7-2-2017

The GBPJPY price suffered sudden negative pressures yesterday to end the stability below 140.00 level, and to settle again within the bearish channel range as appears in the above image, we notice that the price suffered some losses by reaching 139.00, to expect renewing the negative trading in the near and medium period, to target 138.75 level reaching to 137.70.

We should mention that 140.00 level stability is important, as it represents the main resistance against the negative attempts, to wait for gathering new negative momentum that assists the price to attempt to reach the suggested targets.

Expected trading range for today is between 140.00 and 138.75

Expected trend for today: bearish