The GBPJPY pair continued providing negative closes below 211.30 level, to confirm its surrender to the previously suggested bearish corrective bias dominance, reaching 210.40 taking advantage of stochastic exit from the overbought level.

 

We will keep our corrective expectations in the near trading, reminding you that the stability of the initial targets near 209.75 and 209.30, while the price success to step above the barrier and providing positive close will turn the bullish bias back, to expect its rally towards the next positive target near 212.65.

 

The expected trading range for today is between 209.75 and 211.20

 

Trend forecast: Bearish