GBPJPY trades negatively – Analysis – 4-8-2017

The GBPJPY pair provided negative signal by its decline below 145.60 level, to delay the bullish rally to begin forming bearish correctional trading by its stability at 144.70, we expect providing new negative trading in the near period until testing the moving average 55 at 143.50, then monitor the price behavior to detect the main targets in the upcoming period.

Stochastic stability below 50 level reinforces the negative suggestion for today, to ease the attempt towards the mentioned correctional target, note that the attempt of providing negative close below the moving average 55 will reinforce the negative domination in the medium period, which forces it to reach the critical support at 141.70.

Expected trading range for today is between 147.00 and 143.50

Expected trend for today: Bearish