GBPJPY begins the negative attack – Analysis – 5-1-2017

The GBPJPY price repeated providing negative closes below the resistance at 144.60, to confirm the domination of the bearish bias, to begin recording some targets by reaching 143.30, the price stability below the moving average 55 increases the negative pressure on the upcoming trading, to keep waiting until reaching the first target at 142.80, then repeating the pressure on the recorded bottom at 142.00.

Stochastic attempt to reach the oversold level assists to confirm the price confinement within the bearish range, which provides extra negative momentum to confirm recording the suggested targets.

Expected trading range for today is between 144.00 and 142.80

Expected trend for today: bearish