The GBPJPY tends towards the negativity – Analysis – 27-8-2021

The GBPJPY pair declined below the moving average 55 to confirmed its surrender to the domination of the bearish bias, to notice recording 150.45 level recently, while the price needs new negative momentum to increase the chances of resuming the negative correction that might target 149.80 followed by reaching the main bullish channel’s support line at 148.70.

On the other hand, rallying above the moving average 55 -located now at 151.30- will cancel the negative overview and expect the beginning of recovery to target 152.20 followed by 153.45 levels.

The expected trading range for today is between 151.30 and 150.00

The expected trend for today: Bearish