The GBPJPY price remains crawling towards the previously waited target level around 172.20 to remain affected by the sideways trading due to the neediness of the negative momentum, generally we will remain waiting for breaking the previous target which represents the main key for resuming the bearish trading in the upcoming period and for achieving 169.45.
We should be aware that the stability of the initial support settled around 172.20 and that might make the price form sideways bias and to remain waiting for gathering the negative momentum which supports achieving the previously suggested target.
Expected trading range is between 173.70 and 169.50
Expected trend for today: bearish