GBPJPY settles positively – Analysis – 22-8-2017

The GBPJPY pair still stable above 140.30 support line until this morning, to block the negative crawling and force the price to provide new sideways trading as appears on chart, while we remind you that the bearish scenario depends on the strength of the strength of 143.20 resistance, which allows us to wait to break the current support to open the way to achieve more negative targets that start at 138.50.

The consolidation of the moving average 55 around the main resistance reinforces the negative pressures on the price to confirm the continuation of the negative domination, while stochastic stability above 20 level supports the intraday sideways fluctuation until gathering new negative momentum in the near term period.

Expected trading range for today is between 141.10 and 138.50

Expected trend for today: Bearish