GBPJPY without any change – Analysis – 17-10-2017

The GBPJPY pair didn’t move since yesterday, but its continuous negative stability below 149.10 level supports preferring the bearish correctional bias domination in the near period, reminding you that the first correctional target at 146.80, and the continuation of the negative pressures might make the price decline below the moving average 55 at 145.55, to target 38.2% Fibonacci correction level in the upcoming period.

While facing strong positive pressures and the attempt to breach the current barrier will cancel the negative correctional overview, to regain its bullish bias by reaching 152.20 reaching to 61.8% Fibonacci correction level at 155.20, therefore, we should monitor the price behavior today well to avoid any attempt to achieving the trend and suffer unexpected losses.

Expected trading range for today is between 149.10 and 146.80

Expected trend for today: Bearish