GBPJPY fluctuates within the negative range – Analysis – 8-6-2017
Economies.com
2017-06-08 08:41AM UTC
The GBPJPY pair was forced to provide intraday positive rebound yesterday to be affected by stochastic sudden rally towards the overbought areas, but the price consolidation below 143.30 barrier allows us to continue suggesting the negative domination until moving towards 38.2% Fibonacci correction level around 140.20.
The moving average 55 decline below the mentioned resistance confirms the price affection by the negative pressures, besides, we notice stochastic attempt to exit from the overbought areas, to confirm getting rid of the positive pressure and attempt to resume the negative attack in the near term period.
Expected trading range for today is between 142.70 and 140.20
Expected trend for today: Bearish
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