GBPJPY repeats the negative closings – Analysis – 17-8-2017

The GBPJPY pair repeated the negative closings below 143.10 resistance to confirm the domination of the expected bearish bias, while the stability of the moving average 55 around the current resistance confirms blocking the price within the bearish range, to provide the price with strong negative momentum and keep waiting to record the main targets that start at 140.35 followed by 138.50 in the upcoming period.

The above chart shows that stochastic forms new negative wave, to settle below 50 level and reinforce the negative pressures until reaching the suggested targets.

Expected trading range for today is between 143.20 and 140.35

Expected trend for today: Bearish