GBPJPY responds to stochastic negativity – Analysis – 30-1-2019

The GBPJPY pair faced new negative pressures yesterday after stochastic exited the overbought areas, to decline towards 143.00 and face the moving average 55, reminding you that the stability of this level confirms the preparation to renew the bullish attempts and repeat the pressure on 144.85 level, followed by extending trading towards the additional target at 145.75.

Getting a negative close below the current support will force the price to postpone the bullish overview and start forming negative trades, to target 142.35 followed by reaching 23.6% Fibonacci correction level at 140.40.

Expected trading range for today is between 143.00 and 145.00

Expected trend for today: Bullish