The GBPJPY needs to break the moving average – Analysis – 28-3-2019

No news for the GBPJPY pair, to notice providing new sideways trades affected by facing the moving average 55 at 144.30 that contradicts the negative attempts, while the stability of the bearish channel’s resistance at 148.50 forms major factor to confirm the domination of the bearish bias for the upcoming trading, besides 146.70 level forming additional resistance against the current fluctuations.

Therefore, we will keep waiting to gather the negative momentum, noting that breaking the moving average 55 will open the way to target many negative levels by moving towards 143.80 followed by 142.30 levels.

The expected trading range for today is between 146.70 and 144.30

The expected trend for today: Bearish