The GBPJPY waiting to break – Analysis – 25-9-2020

The GBPJPY pair failed to provide negative close below 133.65 level, to continue forming an obstacle against the previously suggested negative attempts, while the current positive rebound is considered as a temporary correction until gathering the negative momentum, to manage to decline towards 132.00 direct, which forms the next target of the bearish bias.

On the other hand, attempting to rally above 134.90 and holding above it will confirm postponing the negative overview and allows the price to test 50% Fibonacci correction level at 136.70 before reaching any new negative station.

The expected trading range for today is between 134.90 and 132.00

The expected trend for today: Bearish