GBPJPY suffers new negative pressures– Analysis – 29-12-2016

The GBPJPY price affected by new negative pressure, hence stochastic form a new bearish wave that forces it to fluctuate below 143.25 level as appears in the above image, the stability of this support will delay the bullish overview, which increases the chances for suffering several losses by reaching 142.20 and 140.35.

And that makes us suggest the bearish bias, to wait for reaching the expected levels, then monitor the price behavior to detect the main trend in the futuristic period.

Expected trading range for today is between 143.80 and 140.40.

Expected trend for today: bearish.