The GBPJPY pair formed a sharp decline yesterday, affected by the repeated negative pressures, surpassing the previously waited targets by reaching 214.95 level, to settle near 212.35 level as appears in the above image.

 

Providing extra negative momentum by stochastic makes us expect attempting to break 211.45 support, which represents a confirmation key for the main trend in the upcoming trading, breaking this support will confirm the continuation of the negativity, to expect forming the next target at 210.25 level, while holding above it will provide a chance for recovering the losses and forming new bullish waves.

 

The expected trading range for today is between 211.50 and 214.25

 

Trend forecast: Bearish