GBPJPY repeats the sideways fluctuation– Analysis – 25-10-2016

The GBPJPY lost its negative momentum yesterday, forming it to form new sideways fluctuations, which keeps its stability at 127.50 level, reminding you that the stability of the resistance at 129.60 supports the dominant negativity in the upcoming trading, to keep waiting for forming negative attack and it begin to record the targets that begin at 124.60 reaching to 120.90.

While the price rally to breach the mentioned resistance will delay the negative attempts, to form a bullish correctional bias to target 132.35 level reaching to 134.30, we should monitor that price behavior well when reaching the resistance.

Expected trading range for today is between 128.15 and 124.60

Expected trend for today: bearish.