GBPJPY tends towards the negativity – Analysis – 7-8-2018

The GBPJPY pair hinted the tend to build new negative trades to notice its decline below the bullish channel’s support line at 144.50, while the continuous stability below this level allows us to suggest building new negative bias, targeting 143.25 as a first negative station, followed by reaching 141.20 in the upcoming period.

The major indicators agree to provide negative momentum, which increases the chances of building the suggested negative attack, as the stability of the moving average 55 above the current price besides stochastic reach to the oversold areas will put the price under strong negative pressure to confirm regaining the suggested targets.

Expected trading range for today is between 144.50 and 143.25

Expected trend for today: Bearish