GBPJPY pushes on the support – Analysis – 4-4-2017

The GBPJPY pair managed to renew the negative attempts to notice its stability around 137.60 support, which forms 50% Fibonacci level, while the continuation of the negative pressure provided by the major indicators allows us to wait to break the current level and opens the way to suffer more losses that start at 136.35 followed by 135.05.

Stochastic move below 50 level reinforces the negative attempts, providing additional negative momentum that increases the chances of breaking the current barrier, followed by starting to record additional negative targets.

Expected trading range for today is between 138.40 and 135.05

Expected trend for today: Bearish