GBPJPY Price Analysis:
Expected Scenario:
The GBPJPY pair surged above the 203.95 resistance line yesterday, indicating a continuation of its main bullish trend. The pair reached 204.73, a new obstacle that led to a temporary pullback to 204.20.
The ongoing positive momentum supported by major indicators and the formation of solid support at 202.95 bolster the expectation of continued bullishness in the near-term and medium-term periods. The forecast suggests that surpassing 204.75 will lead to an immediate rise towards 205.20, followed by a potential target of the next main station at 206.35.
Expected Trading Range:
Today’s anticipated trading range for GBPJPY is between 203.65 and 205.00.
Trend Forecast: Bullish
In summary, the GBPJPY pair is expected to maintain its bullish momentum, with strong support at 202.95 and key targets at 205.20 and 206.35. Traders should watch for the pair to surpass the 204.75 resistance to confirm further gains.
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