GBPJPY begins the negative attack– Analysis – 12-4-2017

The GBPJPY price begun to provide true negative trading yesterday to 136.60 to announce its affection by the bearish bias domination, reminding you that the stability of the price below 50 % Fibonacci correction level at 137.60 will increase the negative pressure to expect the price attempt to record the initial main target at 135.05 and breaking it will extend the losses quickly to 133.70 to form the next station for the bearish bias.

Stochastic attempt to reach the oversold level supports our bearish expectation by providing extra negative momentum that allows it to resume the negative attempts until achieving the suggested targets.

Expected trading range for today is between 137.60 and 135.05

Expected trend for today: bearish.