The GBPJPY covers some losses – Analysis – 3-8-2022
The GBPJPY pair touched the first additional negative target yesterday by reaching 159.43, to rebound bullishly towards 162.60, covering some recently recorded losses and settling above the moving average 55 as appears on the chart.
The above chart shows stochastic attempt to exit the oversold areas, to confirm postponing the negative attempts and start suggesting the bullish rally to target 162.80 followed by reaching the next barrier at 163.45.
The expected trading range for today is between 161.30 and 162.80
The expected trend for today: Bullish