The GBPJPY keeps the negativity – Analysis – 24-6-2020

The GBPJPY pair ended its recent positive rebound by providing negative close below 38.2% Fibonacci correction level at 133.70, to reinforce the domination of the previously expected bearish bias, reminding you that it is important of the moving average 55 forming additional resistance at 134.75 to confirm blocking the price within the negative range, to keep waiting to record the negative targets at 132.50 and 131.30.

Stochastic current fluctuation above 50 level might block the negative attack, to force the price to form temporary sideways fluctuation until gathering the required additional negative momentum to achieve the suggested targets.

The expected trading range for today is between 134.35 and 132.50

The expected trend for today: Bearish