The GBPJPY pair has exhibited repeated closures above the supplementary support level at 184.25, indicating the commencement of bullish movements and stabilizing near 185.60. This reinforces the significance of garnering additional positive momentum promptly to facilitate the approach towards the initial target at 185.90. Surpassing this level would further facilitate the attainment of fresh gains, potentially extending towards 186.75 and asserting pressure on the previously recorded high.
Any potential retreat below the specified support could defer the upward momentum, triggering a corrective bearish trajectory with a gradual descent towards 183.70 and 183.10.
The projected trading range for today is expected to fluctuate between 184.85 and 185.95.
The prevailing trend for today is anticipated to be bullish, underscoring the upward trajectory of the GBPJPY pair.