GBPJPY continued to form bullish corrective trades, benefiting from its repeated stability above the 208.10 level. The pair is currently testing 210.20, bringing it close to its first corrective target.

 

Noting that continued positive momentum from stochastic by approaching the 80 level could increase the chances of the pair breaking above 210.40. This would pave the way for further gains toward the main resistance barrier at 211.20. However, failure to break above 210.40 would lead to mixed trading, with a strong possibility of bearish waves, gradually targeting 209.00 and 208.10.

 

The expected trading range for today is between 209.45 and 211.00.

 

Trend forecast: Bullish