GBPJPY continues to decline – Analysis – 13-8-2018

The GBPJPY pair showed more negative trades to notice surpassing 141.20 level, to increase the chances of moving towards 23.6% Fibonacci correction level at 139.60, thus, we will keep waiting to reach this target followed by monitoring the price behavior to manage to detect the upcoming targets.

The medium term expectations depend on the strength of 139.60 level, as crawling below this barrier will open the way to record new negative targets that might start at 137.35, while getting a positive close above it will increase the chances of forming correctional bullish trades to attempt to test 143.40 level until gathering new negative momentum.

Expected trading range for today is between 141.85 and 139.65

Expected trend for today: Bearish