The GBPJPY pair has capitalized on the support at the 188.50 level, activating its bullish trend and gaining momentum towards 191.70, bringing it closer to the target outlined in our previous report.
The stochastic indicator is providing additional positive momentum, enhancing the strength of the bullish trend. We expect the pair to test the 192.10 resistance level, and if it surpasses this level, trades may extend towards the 50% Fibonacci correction at 193.25.
For today, the expected trading range for GBPJPY is between 190.80 and 193.25.
Trend Outlook: Bullish
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