GBPJPY sneak below the initial support– Analysis – 10-1-2018

The GBPJPY pair suffered new negative pressures yesterday, to notice by the above image its reach below the initial support at 152.85, which confirms delaying the bullish attempts to begin preferring the bearish correctional bias domination that might target 150.50 level reaching to the moving average 55 at 149.60.

Besides stochastic approach from the oversold level reinforces the bearish bias domination in the near period, which provides new negative momentum until reaching the suggested targets.

Expected trading range for today is between 152.85 and 150.50

Expected trend for today: Bearish