The GBPJPY pair experienced a fresh surge in bullish momentum, capitalizing on the stability observed within the established bullish trajectory. This upward movement relied on the support provided by the MA55, solidifying its presence at 182.20. Notably, the pair successfully surpassed the initial target as indicated earlier, currently stabilizing at 185.60.
The continuous positive momentum observed in the stochastic indicator enhances the robustness of the bullish trajectory. Expectations are now directed towards additional gains, with potential extensions reaching towards 186.25. Furthermore, there’s anticipation for a push towards the significant level of 188.00, which marks the gateway for a potential return to the bullish channel evident on the chart.
For the current trading day, the projected range lies between 184.50 and 186.25, indicating potential fluctuations within this span.
Overall, the prevailing trend for the day remains bullish, with the GBPJPY pair poised for further upside. Traders are advised to monitor the developments around the 186.25 level, as a breakthrough could signal a continuation of the upward trajectory, possibly re-establishing within the bullish channel.