GBPJPY repeats the negative attempts – Analysis – 27-3-2017

The GBPJPY pair provided new negative close below 139.30 level that forms new resistance against the recent trades, to confirms its affection by the previously expected bearish bias, expecting to renew the negative pressure on 137.75 level and remind you that breaking this level will confirm resuming the negative attack to wait to reach the next target at 136.60 followed by moving towards 61.8% Fibonacci level at 135.05.

The price gets its negative momentum through the moving average 55 stability above the current price besides stochastic reach towards the oversold areas, to ease the mission of breaking 137.75 level and reach our targets.

Expected trading range for today is between 138.60 and 136.60

Expected trend for today: Bearish