GBPJPY trades negatively – Analysis – 23-8-2017

The GBPJPY pair formed new negative wave yesterday to repeat pushing on 140.30 support, attempting to resume the expected negative attempts, while the moving average 55 provides negative pressures by consolidating around the key resistance to reinforce the negative overview and ease the attempt to record the main negative targets that start at 138.50 followed by 135.60.

Also, stochastic stability below 50 level assists to provide new negative momentum in the near term period to confirm getting rid of the sideways domination and start forming the waited negative trading.

Expected trading range for today is between 141.10 and 138.50

Expected trend for today: Bearish