GBPJPY settles within intraday sideways range – Analysis – 24-3-2017

The GBPJPY pair did not show any strong moves since yesterday to keep its negative stability below the moving average 55, while stochastic attempt to form negative wave might assist to start forming the bearish attack, reminding you that the first negative target is located around 137.75, and breaking this level will extend the pair's losses towards 136.50 followed by 135.00 levels.

The main factor to suggest the bearish overview is the stability of the triangle's resistance at 140.80, to assist to block the price within the negative range, while getting positive trading above this level will cancel the negative overview and turn back to expect the positive domination until reaching 143.20.

Expected trading range for today is between 139.80 and 137.75

Expected trend for today: Bearish