Forex Trading News & Analysis

Daily analysis of GBP/JPY for April 10, 2017

GBPJPYH4.png

Overview

The GBPJPY pair lost its main negative momentum affected by stochastic that is forming an intraday positive wave and providing positive trading by reaching 138.00. The price might continue to show mixed trading until gathering the negative momentum again, supporting our negative overview that targets 136.35 followed by 135.05. We will depend on the stability of the main resistance at 139.50 to confirm blocking the price within the negative range. Besides, 138.80 levels are forming initial resistance that might form a solid barrier against any attempt to test the mentioned main resistance. The expected trading range for today is between 138.80 and 136.35.

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