The GBPJPY pair reacted to stochastic positivity by forming correctional bullish rebound and approach the minor bearish channel’s resistance line at 190.45, while the upcoming scenario depends on the strength of this resistance, as its stability allows us to expect renewing the negative attempts by crawling towards 188.75 followed by reaching 187.90.

 

On the other hand, facing strong positive pressures and rallying above the current resistance will cancel the bearish overview to start forming bullish waves, expecting to target 190.80 as a first station, followed by reaching the MA55 at 192.60.

 

The expected trading range for today is between 188.75 and 190.50

 

Trend forecast: Bearish