GBPJPY still within the correctional bearish range – Analysis – 13-10-2017

The GBPJPY pair continued to face stochastic positivity that approaches from 80 level, to notice its fluctuation below 50 Fibonacci correction level that forms solid barrier around 149.10, while the stability of this level allows us to keep suggesting the correctional bearish bias that targets 146.80 followed by 145.55 levels.

On the other hand, rallying above the mentioned barrier and getting positive close will confirm regaining the bullish bias to start targeting 152.80 followed by reaching 61.8% Fibonacci correction level around 155.20.

Expected trading range for today is between 149.10 and 146.80

Expected trend for today: Bearish