The GBPJPY pair formed several bearish waves, affected by forming a strong barrier at 213.50, reaching below 212.00 level in Friday’s trading, announcing the dominance of the bearish scenario by targeting 211.15 level.

 

Providing negative momentum by the main indicators and holding below 213.50 level repeatedly supports the dominance of the bearish trend, to expect attempt to target 210.40 level, where surpassing it will make the next main target for the negative trading at 209.10 level.

 

The expected trading range for today is between 210.40 and 212.35

 

Trend forecast: Bearish