The GBPJPY pair failed to resume the bullish attempts, due to the stability of the barrier at 112.30, forcing it to activate the bearish corrective scenario by threatening the stability of the minor bullish channel’s support at 211.90.

 

The contradiction of the main indicators by providing negative momentum by stochastic that might push the price to break the current support, to confirm its readiness to target new corrective stations that might extend 211.35 and 210.60, while renewing the bullish scenario depends on breaching the previously mentioned barrier and holding above it.

 

The expected trading range for today is between 211.35 and 212.75

 

Trend forecast: Bearish