The GBPJPY continues to postpone the decline – Analysis – 22-3-2023

The GBPJPY pair still affected by the contradiction between the major indicators, to force it to postpone the negative attack by fluctuating above the additional support 158.60, to notice forming correctional bullish rebound and move towards the MA55 at 162.05.

We remind you that the bearish scenario will remain valid for the upcoming period depending on the stability of 164.40 resistance, allowing us to wait to gather the negative momentum and repeat the attempts to decline towards 160.40 followed by renewing the pressure on the mentioned additional support in order to find a way to resume the negative trades.

The expected trading range for today is between 162.85 and 160.60

The expected trend for today: Bearish