The GBPJPY exceeds the expectations – Forecast today – 29-4-2024

GBPJPY Price Analysis

Expected Scenario

• The GBPJPY pair was affected by strong economic data, to notice resuming the bullish attack and achieve big additional gains by reaching 200.50 level followed by bouncing downwards quickly to settle below the minor bullish channel’s resistance at 195.90, attempting to continue gaining profits.
• Also, stochastic exit from the overbought areas supports the correctional bearish track for now, and settling below 196.30 allows us to expect its affect by negative pressures, waiting to test the additional support at 193.90 before any attempt to renew the bullish attempts.

Expected Trading Range

Between 195.90 and 193.90