The GBPJPY pair returned to fluctuated below 194.55 level, forming some of the intraday bearish waves, attempting to gather the required positive momentum to reach the main positive stations that are located near 195.70 reaching 196.45.

 

Depending on forming an important support by the moving average 55 reach to 192.40, to confirm the confinement of the trading within the bullish track, to increase the chances for reaching the suggested targets, while the decline below this support will cancel the bullish suggestion in the current trading, to expect suffering new losses by reaching 191.65 reaching 38.2%Fibonacci correction level at 190.90.

 

The expected trading range for today is between 193.00 and 195.70

 

Trend forecast: Bullish