The GBPJPY pair failed to settle above 210.40 level, to provide a new negative close below it, to begin forming bearish waves, to settle near 209.80 level.

 

The negative stability below the barrier besides the attempt of providing negative momentum by the main indicators will increase the chances of targeting the negative stations, which might begin at 219.05 reaching extra support near 208.10, while providing a positive close above the barrier will provide a chance to begin the bullish trend, to form initial target at 211.25 level. 

 

The expected trading range for today is between 209.05 and 210.40

 

Trend forecast: Bearish