GBPJPY fluctuates below the resistance – Analysis – 24-1-2017
Economies.com
2017-01-24 08:02AM UTC
The GBPJPY price formed an intraday sideways trading, but its stability below the bearish channel’s resistance that located currently at 141.70 makes us keep preferring the negative attempts in the upcoming period, therefore, we will depend on the stability of the resistance, to wait until gathering new negative momentum to reach 140.00, which represents the initial negative target, to be attracted to 138.80 and 137.45.
Note that the price attempt to breach the resistance will cancel the negative overview, which forces the price to form a new bullish rally to target143.20 reach 145.30 level.
Expected trading range for today is between 141.70 and 140.00
Expected trend for today: bearish.
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