GBPJPY seeks additional momentum – Analysis – 10-4-2017

The GBPJPY pair lost its main negative momentum to be affected by stochastic forming intraday positive wave and start providing some positive trading by reaching 138.00, while the price might continue to show mixed trading until gathering the negative momentum again, to support our negative overview that targets 136.35 followed by 135.05.

We will depend on the stability of the main resistance at 139.50 to confirm blocking the price within the negative range, besides 138.80 level forming initial resistance that might form solid barrier against any attempt to test the mentioned main resistance.

Expected trading range for today is between 138.80 and 136.35

Expected trend for today: Bearish