Despite facing strong negative pressures yesterday, the GBPJPY pair stability above the additional support line at 188.50 forms major factor to reinforce the domination of the previously suggested bullish bias, to notice rallying towards 189.70 now.

 

We assure the importance of providing positive close above 189.70 level to open the way to form strong bullish waves and target 190.65 followed by reaching 192.00 levels, while declining below 188.50 and providing negative close below it will push the price to back to the negative track to suffer big losses that might start at 187.10.

 

The expected trading range for today is between 188.50 and 190.65

 

Trend forecast: Bullish