GBPJPY awaits the negative momentum – Analysis – 12-2-2019

The GBPJPY pair continued forming slow sideways trading affected by the contradiction between the main indicators, to settle at 142.25, reminding you that the stability of the initial resistance at 142.80, reinforcing the bearish bias domination, gathering a new bearish momentum makes us expect declining to 141.45, to wait for hitting 140.40.

Stochastic reach to the overbought level, besides the stability of the price below the initial resistance supports getting rid of the positive pressures, to increase the chances for gathering the negative momentum and begin targeting the suggested negative levels.

The expected trading range for today is between 142.80 and 141.45

The expected trend for today: Bearish