The GBPJPY pair has signaled its intent to recover losses by recently surpassing the 181.90 level. It has aggressively approached the MA55, reaching 182.70, as indicated on the chart. The confirmation of a sustained upward movement necessitates a new close above 181.90, paving the way for renewed positive momentum and the formation of bullish waves. The medium-term targets are set at 183.35, followed by 184.40.
Stochastic indicators have exited the oversold areas, presenting opportunities to gain the necessary positive momentum for achieving the proposed targets. Emphasizing the importance of holding above 181.90 is crucial to prevent potential losses that may arise from a shift in the current trend.
The expected trading range for today is anticipated to fluctuate between 182.20 and 183.35.
Anticipated Trend for Today: Bullish