The GBPJPY faces stochastic negativity – Analysis – 5-12-2022
Economies.com
2022-12-05 05:46AM UTC
The GBPJPY pair started to resist the negative pressures caused by stochastic consolidation near 20 level by providing frequent positive closings above the additional support 164.50, to notice rallying towards 165.80 now.
We remind you that the consolidation of the price below 166.80 barrier will increase the chances of renewing the correctional negative attempts by providing new pressures on the mentioned support, while breaking it might extend losses towards 164.00 followed by 163.10.
The expected trading range for today is between 166.30 and 164.50
The expected trend for today: Bearish
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