The GBPJPY pair failed to settle above 209.15 barrier, providing mixed trading due to the contradiction between the negative stability and providing bullish momentum by the main indicators, to settle near 208.65.

 

We expect the trading within tight path that is represented by 209.15 barrier, while 208.20 forms extra support against the current trading, we recommend monitoring the price behavior and waiting for surpassing one of these levels, to detect the main trend in the upcoming trading. Where confirming the breaching will open the way for recording clear gains that might begin at 210.65 and 211.70, while breaking the support and holding below it will force it suffer extra losses that might extend towards 207.05.

 

The expected trading range for today is between 208.20 and 209.15

 

Trend forecast: Neutral