The GBPJPY currency pair initiated a fresh bearish attack in the previous session. It capitalized on the sustained trading below the 183.20 level, successfully reaching the second downside target, declining to 180.75 before staging a corrective bullish rebound, pushing it to approximately 182.00.
It’s crucial to note the pair’s consistent trading below the 183.20 resistance and the stochastic indicator’s inclination towards providing negative momentum. These factors reinforce the bearish outlook, with an anticipated target near 180.40, followed by a potential challenge of the additional support level at 179.35.
For today’s trading, the expected range is between 182.40 and 180.40, with a prevailing bearish trend forecasted.