The GBPJPY takes a breath – Analysis – 27-5-2019

The GBPJPY pair failed to break the additional support 138.40 recently, to force the price to take a breath by forming bullish correction and reach 139.50, while this positive correction will not affect by the main bearish track unless surpassing 140.40 barrier to allow us to wait to gather new negative momentum and increase the chances of achieving the required break in the upcoming period.

Therefore, we will keep our bearish overview and wait to gather new negative momentum and remind you that 137.10 level forms the next negative target in case achieving the required break.

The expected trading range for today is between 140.40 and 138.40

The expected trend for today: Fluctuates within the bearish range