The GBPJPY pair succeeded in taking advantage of the main indicator’s positiveness, forming a strong bullish rally, achieving the previously suggested targets by reaching 196.18, forming a temporary negative rebound, in order to catch its breath before forming a new bullish attack.

 

The bullish track will remain valid, depending on the stability of the support near 194.20, besides the continuation of providing positive momentum by the main indicators, to expect surpassing 196.30 and reaching the next target at 197.35, to face 61.8%Fibonacci correction level.

 

The expected trading range for today is between 195.25 and 197.35

 

Trend forecast: Bullish