The GBPJPY fails to confirm the breach – Analysis – 3-4-2023
Economies.com
2023-04-03 06:10AM UTC
The GBPJPY pair failed to confirm breaching the extended resistance at 164.40, to notice forming new negative wave and attempting to hold within the negative track again, by touching 163.45 level.
Note that the contradiction between the major indicators represented by stochastic exit from the overbought areas and the MA55 positive support by settling below the price might force the price to provide sideways trades before starting the negative attack that might target 162.90 and 162.20 levels in the medium term period.
The expected trading range for today is between 164.50 and 163.00
The expected trend for today: Bearish
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