GBPJPY touches the moving average 55 – Analysis – 31-8-2017

The positive pressures effect continued on the GBPJPY pair, to notice reaching the moving average 55 around 142.85, while we remind you that the bearish scenario will remain valid as long as 143.60 main resistance remains intact, expecting to attempt to regain the bearish bias by providing strong pressure on 140.30 followed by attempting to reach the first main target at 138.50.

To active the bearish scenario, we need stochastic to exit from the overbought areas to start providing new negative close and assist to form the negative trading followed by reaching the waited targets.

Expected trading range for today is between 142.85 and 140.30

Expected trend for today: Bearish