The GBP/JPY currency pair is currently experiencing mixed trading, with today’s expected range set between 193.00 and 195.00. The pair is testing the support of a minor bullish channel at 193.55, while showing signs of forming bullish waves, particularly with its stability around the 194.35 mark.
The presence of positive momentum indicated by stochastic readings reinforces the bullish outlook, with potential targets set at 195.60. A successful breach of this level could lead to further gains, extending trading toward 196.60. Conversely, if the current support is broken, it would hinder the bullish momentum and initiate bearish corrective waves, targeting the 192.45 level.
The expected trading range for today is between 193.85 and 195.60.
Trend Forecast: Bullish
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