The GBPJPY pair provided some positive signals by its stability above the extra support at 194.00 and its rally above the support of the bullish channel near 194.50, which allows it to achieve some gains by reaching 196.32.

 

Stochastic begin to provide positive momentum will increase the chances for forming new bullish waves, to expect targeting 196.65 level, reaching 61.8%Fibonacci correction level near 197.45, forming the next main target of the current trading.

 

The expected trading range for today is between 195.20 and 196.60

 

Trend forecast: Bullish