The GBPJPY pair ended the last bearish scenario by recording the previously suggested targets, reaching 209.95 level to rebound quickly to settle above 210.40 level, to activate the attempts of recovering the losses in the near and medium period.

 

The stability above the current support will help it to form several bullish waves, to expect targeting 212.40 and 213.25 level, while the price return to settle below the support level and providing a daily close below it will confirm its readiness to form strong bearish waves, to reach 209.10 initially, reaching the next support near 208.25.

 

The expected trading range for today is between 210.70 and 212.40

 

Trend forecast: Bullish