The GBPJPY pair approached the target near 200.45 in yesterday’s trading, which forms an important support level to push it to form bullish rebound by hitting 202.10 level, to indicate regaining the bullish trend.

 

The price needs a new bullish momentum that allows it to provide new bullish close above 201.70 level, reinforcing the chances of targeting positive stations that are located near 202.55 and 203.25, while declining and holding below 200.45 will force it to suffer extra losses, to expect targeting 199.20 level initially.

 

The expected trading range for today is between 200.80 and 202.55

 

Trend forecast: Bullish by the stability of 200.45