GBPJPY is confused – Analysis – 27-2-2017

The GBPJPY price suffered from negative pressure in the last trading to decline below the extension of the support at 140.35 surpassing the moving average 55, but facing 38.2% Fibonacci correction level at 138.80 makes the price confused, to expect the domination of the sideways bias if the mentioned levels settled, waiting for providing new signal that assists to detect the true targets in the upcoming period.

While breaking the current correction will confirm the dominant negativity in the upcoming trading, to expect targeting 137.40 level reaching to 135.90, while breaching the moving average 55 will support regaining the bullish bias, to return to prefer the dominant positivity that targets 142.40 level initially.

Expected trading range for today is between 140.35 and 138.80

Expected trend for today: sideways until surpassing the price.