The GBPJPY pair lost its positive momentum, affected by stochastic exit from the overbought that forces it to delay the bullish attack and motivate the attempts of gathering the gains by reaching 194.85.

 

Note that the stability of the trading within the minor bullish channel’s levels, and its support located near 194.40, which makes us keep the bullish suggestion, to wait for surpassing 195.70 level, then attempts to achieve new gains by targeting 197.45 level.

 

The expected trading range for today is between 194.65 and 196.80

 

Trend forecast: Bullish