The GBPJPY pair has affirmed its adherence to the corrective bearish bias by touching the 186.42 level, nearing the anticipated downside target. This bearish sentiment remains valid, contingent on the consistent trading below the 187.35 level, coupled with negative signals from stochastic momentum indicators. The expected trajectory points towards 186.05 and 185.60 levels.
Conversely, a resurgence of primary bullish attempts necessitates a robust upward rally, establishing a close above the 187.50 level. This move would strengthen the prospects for new gains, potentially commencing at 188.10.
Key Trading Range for Today: 187.10 – 186.05
Trend for Today: Bearish