GBPJPY resumes the negativity – Analysis – 17-4-2017

Despite the recent calm trading, but the price stability below 137.60 level allows us to continue suggesting the negative domination, noticing that it reached new negative target by reaching 135.60, while the continuation of the negative pressure allows us to wait to reach the main target at 135.05, reminding you that breaking this barrier will allow it to achieve more negative targets that start at 133.70.

Stochastic keeps the negative stability within the oversold areas, to continue providing the negative momentum and increase the chances of breaking the near barrier to confirm the continuation of the negativity until reaching our suggested targets.

Expected trading range for today is between 136.80 and 135.05

Expected trend for today: Bearish