Despite the weakness of the GBPJPY pair’s trading, there are positive factors that begin by the main stability within the bullish channel’s levels, by the continuation of forming extra support at 205.20 level, these factors confirm the continuation of the positivity in the near and medium period.

 

Providing positive momentum by stochastic reach towards overbought level makes us prefer attacking the resistance of the bullish channel on 207.70, confirming that breaching it is important to record new gains by its rally towards 208.25 and 208.70.

 

The expected trading range for today is between 206.25 and 207.70

 

Trend forecast: Bullish