The GBPJPY pair continued forming sideways trading, to notice its continued fluctuations near 218.40 level without recording any new positive target due to the contradiction between its stability below 218.65 barriers against the attempt of providing positive momentum by the main indicators, specifically by stochastic reach to 80 level.

 

In general, the main scenario remains bullish, depending on the stability of the initial main support at 216.55, which makes us wait for breaching the current barrier, to begin targeting the positive stations and expect reaching 219.40 initially, putting a pressure on the psychological barrier at 220.00.

 

The expected trading range for today is between 217.85 and 219.40

 

Trend forecast: Bullish