The GBPJPY presses on the barrier – Forecast today – 8-4-2024

GBPJPY Pair Price Analysis

Expected Scenario

• The GBPJPY pair took advantage of stochastic positive momentum signals to form bullish waves and press on the 192.00 barrier, settling near it as seen on the chart.
• Surpassing the current barrier and holding above it is crucial to ease the mission of resuming the bullish attack, potentially reaching additional positive stations represented by the 192.55 and 193.10 levels.
• Failure to breach the barrier may lead to mixed sideways trades with potential losses, possibly crawling towards 190.90 followed by reaching 190.15 additional support.

Expected Outcome

Surpassing the 192.00 barrier and holding above it is likely to facilitate the GBPJPY pair's resumption of bullish momentum, potentially reaching additional positive stations at 192.55 and 193.10.

Expected Trading Range

Between 191.35 support and 192.55 resistance.