The GBPJPY pair continues its bullish trajectory, consistently holding above the supplementary support level at 189.90. Recent market activity saw the pair achieving a new milestone on the preceding Friday, reaching 191.14. Subsequently, the currency pair has undergone some lateral movement, aimed at consolidating additional positive momentum.
As long as the aforementioned support line remains resilient, our outlook remains bullish. The immediate target lies at 191.35, with further bullish momentum potentially propelling the price towards the subsequent key level at 191.85.
For today’s trading activity, the expected range is anticipated to fluctuate between 190.15 and 191.35, maintaining the overall bullish trend.
In summary, the GBPJPY pair is poised to capitalize on the stability of its support line, with the current analysis suggesting a continued bullish trend, eyeing 191.35 initially, and potentially extending to 191.85 upon surpassing the former.
Expected Trend for Today: Bullish