The GBPJPY currency pair has persistently charted a course of robust bullish movements in recent sessions, buoyed by a prevailing bullish bias, successfully surmounting its initial target to reach 182.90. It’s worth noting that the current retracement towards 181.90 suggests a brief consolidation phase before resuming the upward trajectory.
Furthermore, stochastic indicators approaching the 80 level underscore the presence of additional positive pressures. This reaffirms our bullish outlook, with an emphasis on maintaining a foothold above the 182.40 support level. In such a scenario, the pair is poised to extend its advance toward the subsequent primary target at 183.40. It’s crucial to highlight that the sustainability of the bullish trend hinges upon the pair remaining above the supplementary support level at 179.30.
Today’s anticipated trading range spans from 181.35 to 182.90, reinforcing the current bullish sentiment.
Today’s Trend Outlook: Bullish