GBPJPY might be forced to fluctuate – Analysis – 23-11-2016
Economies.com
2016-11-23 07:45AM UTC
The GBPJPY pair lost its bullish momentum after reaching 138.80, affected by stochastic attempt to exit the overbought area, which might force the price to form intraday negative fluctuation to test 136.80 level and wait to gather the bullish momentum and extend to test the main resistance at 140.40.
In general, the bullish overview will remain valid as long as the above mentioned initial support remains intact, as breaking it will increase the negative pressure on the price and start forming negative attack to move towards the moving average 55 at 134.35.
Expected trading range for today is between 136.80 and 140.40
Expected trend for today: Bullish
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