The GBPJPY gathers new negative momentum – Analysis – 8-4-2019

Economies.com
2019-04-08 06:44AM UTC

The GBPJPY pair ended its correctional bullish rebound by providing new negative close below the bearish channel’s resistance at 148.30, to confirm the preparation to renew the main bearish attack, reminding you that it is important to break the moving average 55 at 144.60 to manage to record many targets located around 143.80 followed by 142.30 levels.

 

Stochastic decline below 50 level forms the major factor to renew the negative attempts due to providing new negative momentum and increases the chances of achieving the required break.

 

The expected trading range for today is between 145.85 and 144.60

 

The expected trend for today: Bearish

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