The GBPJPY pair ended the last bullish rally by recording 212.15 level, to bounce directly to settle near 211.30, which formed strong obstacle against the bullish attempts.

 

Note that the stability within the main bullish levels and forming extra support at 211.30 level, which makes us wait for gathering bullish momentum to reinforce the chances of recording the target at 212.55 and surpassing it might extend trading towards 213.75, while reaching below 211.30 and providing negative close will confirm delaying the bullish attack, to begin forming temporary corrective wave, to target 210.65 and 209.90 level.

 

The expected trading range for today is between 211.00 and 212.50

 

Trend forecast: Bullish