GBPJPY without any change – Analysis – 22-12-2016

There is no change on the bearish correctional trend for the GBPJPY price, due to its stability below 146.60 level, which forms an initial resistance against the current fluctuation, therefore, we will keep waiting for recording the correctional target at 143.25, then monitor the price behavior to detect the true trend in the upcoming period.

Note that the price attempt to breach the initial resistance might cancel the bearish correctional overview, to begin forming a positive rally that renew the pressure on 148.25 level, to attempt to record new gains that might begin at 151.55.

Expected trading range for today is between 146.60 and 143.25

Expected trend for today: bearish.