The GBPJPY pair continued to provide additional sideways trading due to the continuous contradiction of the indicators, as stochastic rallies above 50 level, while the moving average 55 consolidates around 146.15 level to form additional resistance against the current trades.
Thus, the stability of 146.15 resistance allows us to keep waiting to gather new negative momentum to start forming correctional bearish trades, reminding you that the targets located at 144.05 followed by reaching 142.60 to test the bullish channel’s support line that appears on the chart.
Expected trading range for today is between 146.15 and 144.05
Expected trend for today: Bearish