GBPJPY resumes the decline – Analysis – 2-3-2018

The GBPJPY pair provided extra negative trading to notice its reach below 148.35 level, confirming its affection by the bearish correctional bias domination, therefore, we will wait for the price to reach the main bullish channel support at 144.80, then wait for the next close to detect the main targets in the upcoming period.

The continuation of providing negative momentum by the main indicators, particularly stochastic reach to the oversold level will increases the chances for surpassing the main support, which activates the bearish bias domination mainly, to open the way towards achieving more of the negative targets in the upcoming period that begin at 143.00.

Expected trading range for today is between 146.40 and 144.80

Expected trend for today: Bearish