The GBP/JPY pair remains affected by downward pressure, while supported by the stability of the main resistance at 147.63. Formation of initial resistance at 145.35 levels increases the possibility of a new negative attack. The nearest target is settled at 143.50 and it is likely to face the moving average 55; and a break of this level might extend losses to the critical support at 141.15. The stability of stochastic within the oversold level reinforces negativity in the near and medium period, which still provides the required momentum for achieving the suggested targets. The expected trading range for today is between 147.00 and 143.50.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The GBP/JPY pair remains affected by downward pressure, while supported by the stability of the main resistance at 147.63. Formation of initial resistance at 145.35 levels increases the possibility of a new negative attack. The nearest target is settled at 143.50 and it is likely to face the moving average 55; and a break of this level might extend losses to the critical support at 141.15. The stability of stochastic within the oversold level reinforces negativity in the near and medium period, which still provides the required momentum for achieving the suggested targets. The expected trading range for today is between 147.00 and 143.50.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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