GBPJPY under strong negative pressure – Analysis – 7-10-2016
Economies.com
2016-10-07 08:21AM UTC
The GBPJPY price suffers strong negative pressure in yesterday trading, which forces it to decline below the support level at 129.60 to turn the bearish bias domination, we notice the price rebound after recording 123.45 level, to test the broken support, and its stability depends on the continuation of the negative trading and attempt to reach 125.80 and 123.50.
Stochastic fluctuation above 50 level might decelerate the negative attack in the current period, waiting for gaining the required momentum then begin to record the suggested targets.
Expected trading range for today is between 129.60 and 125.80
Expected trend for today: bearish.
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