The GBPJPY pair opened today’s trading with a big price gap, to settle above the barrier at 200.45, recording big gains by its rally towards 202.10, approaching the initial main target at 202.40, forming 161.8%Fibonacci extension level that appears in the above image.

 

And that confirms the price surrender to the bullish bias dominance, by providing extra positive momentum by the main indicators, which increase the chances of surpassing 202.40 level, to begin achieving extra gains by its rally towards 202.85 reaching 1.809% Fibonacci extension level near 203.85.

 

The expected trading range for today is between 200.60 and 202.80

 

Trend forecast: Bullish