The GBPJPY pair achieved a breakthrough above the 184.25 resistance level last Friday and managed to sustain its position above it. This breakthrough resulted in the attainment of the first primary target at 185.20. The pair’s overall stability within the primary bullish channel, coupled with the positive momentum observed in major indicators, provides a compelling rationale to anticipate further bullish endeavors. The next prospective target stands at 185.90, representing the subsequent milestone in this ongoing bullish rally. An eventual ascent to the recently established high at 186.76 is also within the realm of possibility.
The anticipated trading range for the day is projected to fluctuate between 184.50 and 185.90.
The prevailing trend for today is notably bullish.