GBPJPY pushes on the resistance – Analysis – 15-8-2017

The GBPJPY pair formed additional positive rally yesterday due to the lack of the negative momentum, attempting to surpass 142.80 resistance, while we should note that the stability of the moving average 55 above the current resistance –at 143.20- reinforces blocking the price within the bearish range, pushing it to form strong negative attack until achieving the first negative target at 140.35.

We should note that attempting to breach the moving average 55 and provide positive daily close above it will cancel the bearish overview and attempt to form new positive rally to target 145.20 followed by reaching the main resistance at 147.65.

Expected trading range for today is between 143.20 and 140.35

Expected trend for today: Bearish