The GBPJPY pair lost the bullish momentum due to stochastic exit from the overbought level, which forces it to delay the bullish attack by reaching below 211.30 level, which keeps forming an important obstacle against the bullish attempts.

 

We expect providing new mixed trading with a chance of attacking the minor bullish channel’s support at 210.10, breaking this support makes us expect targeting extra corrective stations that might begin at 209.45 and 208.80, while the trading rally above the obstacle will increase the chances of recording new gains by targeting 212.55 and 213.75 level.

 

The expected trading range for today is between 210.10 and 211.50

 

Trend forecast: Fluctuated within the bullish trend