GBPJPY still negative – Analysis – 21-6-2018

The GBPJPY pair still fluctuating negatively below the initial resistance 146.20, to decrease the attempt to test the broken bullish channel’s support line that forms key resistance at 148.00 today, which confirms the continuation of the negativity for the near term and medium term trading, to keep waiting to record more negative targets that start at 143.75 and extend to 142.75.

Stochastic exit from the oversold areas might force the price to provide more sideways trading until gathering new negative momentum and open the way to reach the mentioned negative targets.

Expected trading range for today is between 146.20 and 143.75

Expected trend for today: Bearish