The GBPJPY pair confirmed its surrender to the bearish corrective trend by providing a new close below 214.50 level, to begin forming bearish waves, achieving the corrective targets by reaching 212.75 level, forcing it to form mixed trading due to the continuation of the main indicators’ contradiction.

 

The price needs a new bearish momentum to help it renew the bearish attempts, which might target 211.80 and 211.30, while breaching the mentioned barrier and holding above it will cancel the negative scenario, providing chance to begin forming new bullish waves, to expect forming initial positive station at 215.25 level.

 

The expected trading range for today is between 211.80 and 214.20

 

Trend forecast: Bearish