The GBPJPY gathers its negative strengths – Analysis – 12-6-2019

The GBPJPY pair continued to face stochastic positivity by settling below the initial resistance 138.50, reinforcing the previously suggested negative overview, while stochastic release from the overbought areas allows us to expect the beginning of gathering the additional negative momentum to manage to record the negative targets at 136.60 and 135.50 levels.

We continue to mention that attempting to rally above the current barrier will postpone the bearish overview and force the price to build more correctional bullish trades with chances to reach 23.6% Fibonacci correction level at 140.40.

The expected trading range for today is between 138.50 and 136.60

The expected trend for today: Bearish