The GBPJPY pair has effectively neutralized negative pressure, rebounding after reaching the 190.50 level yesterday. Following a positive stochastic signal, the pair broke through the 191.80 resistance and is now attempting to recover previous losses, settling near 192.30.
The continuous support at 189.30 further strengthens the outlook for a near-term and medium-term bullish trend. This sets the stage for a potential rally towards 192.90, followed by a test of the next resistance level at 194.10.
For today, the expected trading range is between 191.45 and 192.90.
Trend Outlook: Bullish
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