The GBPJPY pair has confirmed its bearish bias with consecutive negative closes below the key resistance at 192.80, along with additional resistance at 192.00. This has led to the formation of negative waves, with the price currently settling near 190.65.
The downward momentum, supported by stochastic indicators, reinforces the bearish outlook for the near term. The focus now shifts to a potential drop below 190.20, which would confirm further declines, with targets set at 189.90 and 188.60.
The expected trading range for today is between support at 189.90 and resistance at 192.00.
Trend Forecast: Bearish
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