The GBPJPY pair announced delaying its bearish attack by posting repeated closes above the 208.10 level. This has led to the formation of bullish corrective waves, with the pair currently stabilizing near 206.60.

 

Despite the conflicting signals from the main indicators, this is unlikely to prevent the pair from recovering further losses incurred previously. Therefore, we expect it to challenge the resistance barrier at 210.40. If the pair breaks above this level and holds there, it could achieve further gains toward 211.25 and 212.00.

 

The expected trading range for today is between 208.60 and 210.40.

 

Trend forecast: Bullish