The GBPJPY pair has managed to close positively above the support at 190.35, signaling a reduction in losses and bolstering the prospects of a corrective bullish rally. This move sets the stage for a potential rally towards the 191.10 level.
Additionally, the stochastic indicator’s exit from the oversold zone strengthens the likelihood of positive momentum, positioning the pair to target higher levels. There is a strong possibility of surpassing the 191.40 mark, with the next key resistance at 192.50.
The expected trading range for today is between 190.35 (support) and 192.50 (resistance).
Trend Forecast: Bullish
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