The GBPJPY pair has experienced repeated negative closes below the 183.50 barrier. This indicates a significant bearish wave that has developed recently, with the pair settling below the temporary support level at 181.50.
Additionally, the stochastic indicator is showing a negative momentum, increasing the likelihood of a renewed bearish assault. It’s anticipated that the pair will soon target the 180.45 level, followed by an attempt to push below the MA55 at 179.90. This may pave the way for a continuation of the correctional attempts in the upcoming period.
The expected trading range for today is between 181.60 and 180.45.
Today’s expected trend: Bearish