The GBPJPY pair recorded more positive gains on last Friday by touching 194.75 level, while we notice opening this morning with negative gap by declining towards 193.45 to settle near the MA55 and keep its stability above the additional support 191.80.

 

We expect to form mixed trades due to stochastic consolidation within the overbought areas to keep waiting to succeed to gain the additional positive momentum and manage to jump above 194.30 level again, to open the way to form new bullish rally and reach the next target at 195.55.

 

The expected trading range for today is between 193.10 and 195.55

 

Trend forecast: Bullish