No news for the GBPJPY– Analysis – 31-10-2016

Economies.com
2016-10-31 08:09AM UTC

The GBPJPY price didn’t succeed to surpass the sideways bias domination, to notice its repeated stability at 127.70 without any attempt to record any negative target until this moment, therefore, we will remain depending on the stability of the resistance at 129.60, to wait for the price to gather the negative momentum, which will support the attempt of recording the targets at 124.60 and 120.90.

 

Stochastic begins currently to form a bearish wave, to attempt to support the negative attempts and increase the chances for gathering the required momentum until reaching the suggested targets.

 

Expected trading range for today is between 129.60 and 126.10.

 

Expected trend for today: bearish.

 

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