GBPJPY under negative pressure – Analysis – 3-3-2017

The GBPJPY price affected by the negativity of the moving average 55, which remains stable below the bearish channels’ resistance, providing clear negative pressure to force the price to decline below 139.90, which makes us wait for providing new negative trading, to repeat the pressure on 38.2% Fibonacci correction level at 138.80, and breaking this support will open the way towards recording new negative targets that begin at 137.60.

By the above image, we notice stochastic crawl below 50 level to support the continuation of the negativity, to provide the required momentum to achieve the suggested targets.

Expected trading range for today is between 140.60 and 138.80

Expected trend for today: bearish.