The GBPJPY faces new negative pressures – Analysis – 7-9-2020

The GBPJPY pair continued delaying the bullish attempts, as it faces extra negative pressures by stochastic reach below 50 level, which forces it to settle below the initial barrier at 142.00.

in spite of the price stability within the bullish channel’s levels until this moment, but the stability of the mentioned barrier and the continuation of facing negative pressures makes us prefer more of the bearish correctional fluctuation until testing the initial support at 139.80, then begin renewing the bullish attack and recording the positive targets at 142.00 and 143.20.

The expected trading range for today is between 142.00 and 139.80

The expected trend for today: Bearish