The GBPJPY pair has maintained its upward trajectory, riding a series of bullish waves and capitalizing on the favorable stability above the supplementary support line situated at 184.25. This resilience has not only triggered a bullish offensive but has also propelled the pair to attain additional gains, marking a touch at 186.31.
A discernible formation of a minor bullish channel, coupled with positive signals from stochastic momentum indicators, underscores the prevailing bullish sentiment. This prompts a sustained optimistic outlook, with the anticipation of an imminent ascent to the 186.95 level, followed by a potential breach towards the subsequent resistance zone at 187.70.
Market participants are advised to navigate within the expected trading range for the day, projected to fluctuate between 185.65 and 186.95. This delineates the crucial boundaries within which traders may assess potential entry and exit points.
In summary, the current trend for the GBPJPY pair remains bullish, substantiated by technical indicators and reinforced by the ongoing positive momentum. Traders are encouraged to stay vigilant and monitor developments closely, with an eye on key resistance levels as potential indicators of sustained upward movement.