GBPJPY confirms the negativity – Analysis – 8-8-2018

The GBPJPY pair provided new negative close below the broken support to form new resistance at 144.50, noticing renewing the negative trades and approaching the first target at 143.25, expecting to continue the negative pressures to target additional negative stations that start at 142.40 followed by 141.20.

Stochastic crawl towards the oversold areas reinforces the negative stability by providing strong negative momentum and confirms the preparation to achieve the suggested negative targets.

Expected trading range for today is between 143.90 and 142.40

Expected trend for today: Bearish