The GBPJPY pair attempted to record some extra gains by hitting 200.75 level, to return to settle below 200.40 barrier, to obstacle the chances for resuming the bullish attack.

 

Therefore, we will keep the bearish correctional scenario, gathering the negative momentum makes us expect declining towards 198.60 directly, then attempts to press on the support near 197.80, while the price success in confirming breaching the barrier will allow it to renew the bullish attempts, to expect its rally towards 201.55, forming the next positive target of the bullish scenario.

 

The expected trading range for today is between 198.60 and 200.40

 

Trend forecast: Bearish