GBPJPY fails to confirm the positivity – Analysis – 29-11-2016

The GBPJPY price suffered strong negative trading to provide new negative close below 140.40 level, to settle within the bearish channel levels that appears in the above image, we expect that the price decline below 138.60 level make it resumes the negative attack to approach from the moving average 55 that located at 135.00 to form the main target in the near and medium period.

The continuation of stochastic decline reinforces the dominant negativity in the upcoming period, to open the way towards new negative momentum to attempt to record the suggested targets.

Expected trading range for today is between 140.40 and 135.00

Expected trend for today: Bearish