GBPJPY repeats the negative closings – Analysis – 19-3-2018

The GBPJPY pair keeps fluctuating negatively below the resistance at 148.50, showing its surrender to the bearish correctional bias in the near and medium period trading, we expect providing extra negative pressure on 146.65 level, and breaking this level will extend the losses to reach the critical support at 145.25.

Stochastic fluctuate below 50 level provides new negative momentum, confirming its readiness to resume the bearish attack, and the moving average stability above the current trading confirms the price confinement within the bearish correctional range, to increase the chances for reaching the suggested targets.

Expected trading range for today is between 147.80 and 145.25

Expected trend for today: Bearish