The GBPJPY pair formed strong bullish rally yesterday, to approach the previously targeted barrier at 193.25, forcing it to postpone the bullish attempts and form new negative rebound to settle near 191.60.

 

Note that the contradiction between the major indicators and the stability of the mentioned barrier might force the price to provide mixed trades, with chances to decline towards 190.60 soon, followed by attempting to renew the bullish attempts and repeat the pressure on the barrier in order to find a way to resume the bullish attack in the upcoming period to target 193.80 and 194.40 levels.

 

The expected trading range for today is between 190.60 and 192.70

 

Trend forecast: Bullish