GBPJPY still stable – Analysis – 2/7/2015

The GBPJPY pair continues to show sideways moves by settling around 192.60 level, affected by the moving average 55 as appears on chart, therefore, we will keep waiting to get new negative momentum that supports resuming the negative attempts that target 190.80 initially.

Note that attempting to breach the moving average 55 will delay the bearish correctional attempts to start bouncing positively temporarily until reaching 193.50 level, followed by forming new bearish waves.

Expected trading range for today is between 193.50 and 190.85

Expected trend for today: Fluctuated bearishly