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The GBPJPY continues to rise – Analysis – 2-5-2023
The GBPJPY pair continued to form strong bullish waves, confirming its surrender to the domination of the bullish bias, to notice its approach to the first additional target at 172.50, reminding you that the main stability within the bullish channel that appears on the chart and 169.25 forming continuous additional support allow us to suggest more bullish attempts in the near term and medium term period to surpass 172.50 level and record additional gains by moving towards 173.65 and 174.70 levels.
In addition, stochastic continuous fluctuation within the overbought areas supports the bullish overview by providing the additional positive momentum to ease the mission of surpassing the current obstacle and reach the mentioned additional stations.
The expected trading range for today is between 171.40 and 173.65
The expected trend for today: Bullish
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