Despite the positive momentum in the last trading, the GBPJPY pair price keeps providing weak sideways trading, affected by the stability of the barrier at 200.40, which decelerates the chances of resuming the bullish attack until this moment.

 

We will keep the bearish correctional track, depending on the stability of the barrier, reminding you that the correctional targets are located near 198.60 and 197.85, while breaching the barrier and holding above it will open the way for recording new gains that might extend to 201.55 reaching 161.8%Fibonacci extension level near 202.45.

 

The expected trading range for today is between 198.60 and 200.40

 

Trend forecast: Bearish