GBPJPY affected by the indicators’ contradiction – Analysis – 16-8-2018

The GBPJPY pair did not succeed to resume the negative attack by providing positive close above 139.65 support line, affected by the major indicators’ contradiction, which will push the price to provide additional sideways trades until gathering the negative momentum to confirm keeping the negative attempts by crawling below the current support and reach 138.00 in the upcoming period.

We should note that any attempt to breach the initial barrier at 141.85 will postpone the negative attack until providing correctional positive trades to target 143.50 level before achieving any new negative target.

Expected trading range for today is between 141.85 and 139.65

Expected trend for today: Fluctuated within the bearish range