The GBPJPY fails to confirm the breach – Analysis – 6-1-2022

The GBPJPY pair failed to confirm breaching 157.40 barrier to postpone the bullish attack and rebound negatively towards 156.70, and despite the main stability within the bullish channel, the negative consolidation below the mentioned barrier increases the chances of forming new negative rebound, to expected moving towards 155.85 level, while breaking this level will extend the pair’s losses towards 154.60 on the medium term basis.

On the other hand, confirming the required breach will open the way to resume the bearish attack, to expect recording new positive targets by rallying towards 158.60 followed by reaching the psychological barrier at 160.00.

The expected trading range for today is between 157.50 and 155.85

The expected trend for today: Bearish