Daily analysis of GBP/JPY for January 12, 2018

Source: Forex Analysis

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Overview

Though the GBP/JPY pair has been trading positively recently, its stability below 152.85 level confirms that bears will dominate in this pair in the short and medium term. Therefore, we will keep the negative suggestion and wait for the pair to gather new negative momentum that allows it to achieve the correctional target at 149.50. The continuation of stochastic stability within the oversold level will provide extra negative momentum that confirms the suggested negativity. The expected trading range for today is between 151.50 and 149.60

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