GBPJPY fluctuates below the initial resistance – Analysis – 29-8-2017

The GBPJPY pair repeated the negative trading below the initial resistance at 141.20, to increase the chances of forming correctional bearish bias in the upcoming period, while the price should decline below 140.10 to add new negative pressure on the price to open the way to achieve the first main target at 138.50.

Stochastic approach from 80 level confirms the preparation to gather new negative momentum that assists to form the correctional bearish attack and start recording the waited correctional bearish targets.

Expected trading range for today is between 141.20 and 139.30

Expected trend for today: Bearish