GBPJPY begins to place targets – Analysis – 9-8-2018

The GBPJPY pair resumed forming negative trades to start recording the main targets by breaking 143.25 barrier, reaching 142.40 level, which confirms keeping the bearish bias domination by moving away from the broken support of the bullish channel, expecting to target additional levels in the near term period, starting at 141.20 followed by reaching 23.6% Fibonacci correction level at 139.65.

The moving average 55 continues to decline to increase the stability of 144.50 key resistance, also, stochastic consolidation within the oversold areas paves the way to gather additional momentum.

Expected trading range for today is between 143.40 and 141.20

Expected trend for today: Bearish