GBPJPY keeps the bearish attempts – Analysis – 6-6-2017

The GBPJPY pair continued to provide some negative trading to keep its stability below the key resistance 143.30, allowing us to keep our negative overview for the upcoming trading, while we expect the price to move towards the recently recorded low at 141.45, noting that the continuous negative pressure will allow the price to resume the bearish attack and touch 38.2% Fibonacci correction level around 140.20.

Stochastic returned to provide the negative momentum by fluctuating below 50 level, to increase the chances of gathering the required negative momentum to achieve the waited targets.

Expected trading range for today is between 142.95 and 140.20

Expected trend for today: Bearish