The GBPJPY pair surrendered to stochastic positivity to keep its stability above 162.10 level, to notice forming new correctional bullish waves and cover more losses by touching 163.65 level.
Now, the continuous positive pressures will increase the chances of moving towards the bearish channel’s resistance at 164.25, to form the additional target for now, followed by monitoring the price behavior to manage to detect the next main trend, as attempting to breach this resistance will confirm moving to the bullish track and head towards 165.10 as a next station.
The expected trading range for today is between 162.40 and 164.25
The expected trend for today: Bullish temporarily