Daily analysis of GBP/JPY for December 23, 2015 Market Analysis Review

Overview

The tight rage controls silver price trading since yesterday, which fluctuates near the critical resistance at 14.25, as long as the price below this level, so we keep preferring the bearish trend on the short term basis, waiting for targeting 13.50 then 13.00 levels initially. You should be aware that stochastic and the EMA50 positive, which might push the price to attempt to stop the suggested negative scenario and head towards achieving some gains on the intraday and short term basis. Silver price didn't show any strong move since morning, therefore, there is no change on the overall bearish trend scenario that depends on the stability of the daily close below 14.25 level, we might witness more of the sideways fluctuation affected by stochastic and the EMA50 positivity, reminding you that our main targets begin at 13.50 then 13.00.

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