The GBPJPY pair touched 187.68 level this morning, achieving some previously waited negative targets, followed by waiting to form quick correctional rebound to settle near 188.70.

 

The current rebound won’t form any effect on the bearish scenario due to the consolidation within the bearish channel, in addition to 189.80 level forming strong additional barrier, thus, we will keep waiting to renew the negative attempts to expect moving towards 187.10 soon.

 

The expected trading range for today is between 187.10 and 189.50

 

Trend forecast: Bearish