GBPJPY confirms the negativity – Analysis – 30-5-2017

The GBPJPY provided new negative close below the neckline of the double top at 143.30, to notice recording new negative level by reaching 141.80, we expect renewing the negative attempts in the near and medium period, to target 38.2% Fibonacci correction level at 140.20.

Stochastic sharp decline and it approach from 20 level reinforces the negative expectation, which provides extra negative momentum that assists to repeat the negative attempts until achieving the suggested target.

Expected trading range for today is between 142.75 and 140.20

Expected trend for today: Bearish.