The GBPJPY pair succeeded to breach the barrier at 198.85, to confirm its readiness to resume the bullish attack, reaching 199.35 taking advantage of providing positive momentum by the main indicators.
We expect forming bullish trading, to target new positive stations that might begin at 200.40, to confirm entering the bullish channel’s levels, then attempts to target 78.2%Fiboancci level at 202.000, while the risk of changing the bullish trend requires forming a sharp decline, to settle below 61.8%Fibonacci correction level at 197.45.
The expected trading range for today is between 198.70 and 200.40
Trend forecast: Bullish