The GBPJPY pair resumed the bullish rally by surpassing the barrier at 110.65, activating with the main indicators’ positivity, forming strong bullish rally and achieving the second target by reaching 212.10, to face strong barrier then form quick negative rebound towards 211.45.

 

Note that the stability below 212.10 by stochastic exit from the overbought level might push the price to form new bearish waves, to target 210.65 level again, while its success by breaching 212.10 will open the way for recording extra gains that might begin at 212.60 and 213.10.

 

The expected trading range for today is between 210.65 and 212.85

 

Trend forecast: Bearish