The GBPJPY tends to resume the decline – Analysis – 16-7-2019

The GBPJPY pair confirmed its affection by the bearish bias domination by providing new negative close below 136.30 level and settling within the main bearish channel, noticing the price approach to 135.00 obstacle to wait to achieve the required break and confirm the preparation to record additional negative targets that might start at 133.70 then 133.15.

Also, stochastic forms negative wave and attempts to consolidate below 50 level supports our negative overview by providing new negative momentum to ease the mission of breaking the current obstacle to reach the suggested targets.

The expected trading range for today is between 135.85 and 134.35

The expected trend for today: Bearish