Daily analysis of GBP/JPY for March 31, 2017

GBPJPYH4.png

Overview

The GBP/JPY price attempted to provide some positive attempts by surpassing 139.40 level to face the moving average 55, to reinforce the negative stability that forces it to renew the negative attempts as appears in the above image, we expect renewing the negative pressure on 137.60 level in the near and medium period, and surpassing it will extend the losses to 136.35 and 135.05. Which makes us suggesting the negativity for today, conditioned by the stability of 140.20 level as the main resistance against the current fluctuation, while the stability of the price above this resistance will make us begin preferring the bullish attempts again, to target 141.80 level initially reaching to 143.25. The expected trading range for today is between 140.10 and 137.60.

The material has been provided by InstaForex Company - www.instaforex.com
Shares