GBPJPY is weak – Analysis – 9-10-2017

The GBPJPY pair showed weak trading to crawl below 147.80 level, hinting postponing the bullish rally and attempt to resume the correctional bearish trading by reaching 146.95 level, also, the price consolidation below 50% Fibonacci correction level around 149.10 increases the negative pressures on the current trading to suggest more bearish trading that targets 145.10 followed by reaching 38.2% Fibonacci level at 143.00.

Stochastic stability within the oversold areas increases the negative pressures to force the price to resume the correctional bearish attempts and wait to reach the mentioned targets.

Expected trading range for today is between 148.30 and 145.10

Expected trend for today: Bearish