GBPJPY under the intraday sideways domination – Analysis – 1-11-2016

The GBPJPY pair was affected by the sideways range domination recently, to notice its fluctuation below 129.60 resistance without any attempt to record any negative target until this moment, while the sideways move is caused by stochastic rally below 80 level, which allows us to wait to gather the negative momentum again, followed by starting to record targets to reach 126.10 then 124.60 levels in the medium term period.

We remind you that the price attempt to rally above the mentioned resistance will postpone the negative attack and start forming correctional bullish bias until touching 133.50.

Expected trading range for today is between 129.60 and 126.10

Expected trend for today: Bearish