GBPJPY price continued to trade sideways with weak momentum, stabilizing near 208.60 and being affected by conflicting signals from the main indicators, particularly as the Stochastic indicator has remained above the 50 level recently.

 

We would like to reiterate that the repeated bearish stability below 210.40 barrier supports the chances of the price forming new bearish waves, with expectations of breaking below the obstacle at 208.10 and then renewing attempts to reach the bearish targets at 206.80 and 206.25.

 

The expected trading range for today is between 206.80 and 209.55.

 

Trend forecast: Bearish