The GBP/JPY pair made an upward extension towards the 184.35 level, testing an additional barrier before experiencing a negative bounce towards 182.90.
It’s noteworthy that consistent fluctuations below the mentioned barrier will enhance the likelihood of triggering a correctional bearish trajectory for the near and medium term. This could lead to several losses, potentially starting at 181.80.
On the other hand, if the pair manages to overcome the current barrier, it may resume the bullish momentum, with an initial target of 184.90, followed by an attack on the 185.40 resistance line.
The expected trading range for the day is anticipated to be between 183.75 and 182.20, with a bearish trend expected.
Expected Trend for Today: Bearish