The GBPJPY pair suffered strong bullish pressures, pushing it to settle above 206.00 level, forming new bullish rally to press on the barrier at 206.90, attempting to record extra gains by hitting 207.20 level.

 

Note that stochastic attempt to reach the overbought level, which might provide a new bullish momentum to push it to provide more of the bullish waves by targeting the bullish channel’s resistance towards 207.65, while activating the bearish corrective scenario requires forming a sharp decline, which allows it to break the extra support at 205.20.

 

The expected trading range for today is between 206.25 and 207.65

 

Trend forecast: Bullish