The GBPJPY provides a negative signal – Analysis – 03-10-2019

The GBPJPY pair provided a negative signal yesterday by its reach below the minor bullish channel at 132.20 level for today, to confirm its move to the negative track, we expect facing new negative pressures by targeting negative levels that begin at 130.65 level, waiting for hitting the second target at 128.80.

Stochastic fluctuate below 50 level and the stability of the moving average 55 above the current trading, all that forms supported factors for the price move to the negative track, to wait for begin recording the mentioned negative targets.

The expected trading range for today is between 132.20 and 130.65

The expected trend for today: Bearish