The GBPJPY pair continued to form strong bullish trades, taking advantage of the frequent stability above 189.70 level that formed key support against the bullish attempts, to notice surpassing the first additional target at 192.30 and approach 50% Fibonacci correction level at 193.30 as a next station for the current trades.

 

Also, stochastic reach to 80 level confirms providing the additional positive momentum to increase the chances of surpassing 193.30 level soon to manage to record additional gains that might start at 193.60 and 194.20 levels.

 

The expected trading range for today is between 191.80 and 193.60

 

Trend forecast: Bullish