The GBPJPY pair took advantage of the repeated positive pressures to confirm the continuation of the bullish scenario, surpassing the target at 209.85 on Friday forming 261%Fibonacc extension level, to open the way for recording big extra gains by hitting 211.05 level.

 

Noticing that stochastic reaches the overbought level, which allows it to settle within the minor bullish channel levels, depending on forming extra support at 209.80 level, to expect forming new gains by its rally towards 211.60 reaching the resistance of the bullish channel at 212.25.

 

The expected trading range for today is between 210.00 and 211.60.

 

Trend forecast: Bullish