The GBPJPY pair has successfully closed above the 61.8% Fibonacci retracement level at 197.30, confirming the continuation of the bullish trend. This morning, the pair recorded a high of 198.95, reflecting the ongoing upward movement.
With strong positive momentum supported by key technical indicators, the pair is likely to target the 199.80 level in the near term. Surpassing this resistance would pave the way for further gains, potentially extending towards 200.88 and eventually reaching 201.90 over the medium term.
For today, the expected trading range for GBPJPY is between 198.00 and 199.80.
Trend Forecast: Bullish
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