GBPJPY suffers strong losses – Analysis – 20-3-2017

There is no news for the GBPJPY price due to its confinement between strong to levels that represented by the support at 138.90, while 140.80 level forms an extension of strong historical resistance that forces it to form more of the sideways trading until this moment, the stability of the current support makes us expect forming an intraday bullish rally to test the mentioned resistance, then wait until providing new signal that allows it to detect the true targets in the upcoming period.

While the price decline below 138.90 level and providing negative close will confirm its affection by the bearish bias domination, to detect the expected targets in the near and medium period by reaching 137.60 and 136.30.

Expected trading range for today is between 138.90 and 140.80

Expected trend for today: bullish.