The GBPJPY pair formed more of the slow bearish waves, confirming their surrender to the suggested bearish scenario, by moving away from the barrier at 194.55 level, to repeat the pressure on the intraday obstacle at 192.90.

 

The continuation of providing negative momentum by stochastic will assist in forming an extra decline to target 192.35 level, reaching the main support at 191.70, while breaching the mentioned barrier will cancel the negative suggestion, to provide the price a chance to renew the bullish attempts by its rally towards 195.20 initially.

 

The expected trading range for today is between 192.35 and 194.20

 

Trend forecast: Bearish