GBPJPY is facing negative pressure – Technical Analysis – 14-10-2015

After breaking 183.30 level previously, which led to push the price negatively, moving below the moving average 50, which double these pressures and kept the price below this level until reaching 182.00 level, followed by a rebound to attempt to cover some previous losses, seeking a descending channel to start the decline again, accompanied by the relative strength indexes indicators reach to the overbought levels that hints an upcoming negative trading.

Therefore, we expect the pair to decline in the coming trading as long as the price is below 183.30, to target 181.00 support level.