GBPJPY repeats the mixed trading – Analysis – 7-4-2017

The GBPJPY pair showed more mixed trading due to its fluctuation around 137.60 support that forms the key level to resume the negative attack, thus, we will keep waiting to provide new negative close in the upcoming four hours' period below this support to expect its move towards 136.35 followed by 135.05.

Stochastic fluctuation around 20 level blocks the negative attempts, waiting to more towards the oversold areas to allow the price to gather the required negative momentum, also, we should note that the moving average 55 consolidates around the major resistance at 140.00, to reinforce our expectations to block the price within the negative range.

Expected trading range for today is between 138.80 and 136.35

Expected trend for today: Bearish