The GBPJPY decreases its losses – Analysis – 23-6-2020

The GBPJPY pair surrendered to the stability of 131.75 level to form solid obstacle against the bearish trades, noticing forming correctional bullish rebound to decrease its losses by reaching 133.85, while we need to note that the price negative stability below 134.35 supports the domination of the bearish track again, forcing the price to decline towards 132.80 followed by reaching the key support 131.30.

On the other hand, getting positive closings above 134.35 will confirm postponing the negative attack to start building correctional bullish wave that might push the price to reach 136.00 before recording any new negative target.

The expected trading range for today is between 134.35 and 131.30

The expected trend for today: Bearish