The GBPJPY currency pair displayed mixed trading activity last Friday, initially approaching 199.05 before continuing to form negative waves. The pair remains firmly below the key resistance level of 199.70, which is crucial in validating the previously forecasted bearish trend.
Current movement suggests a potential decline towards 197.45, supported by the negative momentum indicated by major technical indicators. We anticipate the price may reach further bearish targets at 196.20, with subsequent support expected at 195.30.
The projected trading range for today is between 198.60 (resistance) and 196.20 (support).
Trend Forecast: Bearish
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