GBPJPY crawls negatively – Analysis – 23-10-2018

The GBPJPY pair crawled to the downside clearly, to settle below the bearish channel’s resistance at 146.50 level, announcing its readiness to form new negative trading in the current period, and the price might face difficulty to face 145.75 level, but providing negative momentum by the main indicators will provide strong negative momentum that allows it to record several negative targets that begin at 145.30 and 144.75.

The stability of the moving average 55 near the bearish channel’s resistance, to confirm the price confinement within the negative range, which increases the chances to reach the suggested negative targets.

Expected trading range for today is between 146.60 and 145.30

Expected trend for today: Bearish