The GBPJPY currency pair has exerted significant positive pressure on the MA55 at 193.00, indicating a potential resumption of the bullish trend. The next target is the 50% Fibonacci correction level at 194.15, and a breakout above this level could lead to further gains, with new targets set at 194.95 and 196.10.
This bullish outlook relies on the consistent stability above the additional support level at 191.80, alongside positive momentum signals from the stochastic indicator, which would facilitate reaching the aforementioned targets.
Today’s anticipated trading range is between 192.25 and 194.15.
Trend Forecast: Bullish
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