The GBPJPY pair formed correctional bearish wave, affected by the stability of 168.70 barrier, suffering intraday losses by reaching 166.70 level, expecting to continue forming correctional negative trades to target 166.20 followed by reaching the additional support at 165.40.
On the other hand, gathering the positive momentum and rallying above the mentioned barrier will confirm its preparation to resume the main bullish attack, waiting to move towards 169.15 followed by reaching the psychological barrier at 170.00.
The expected trading range for today is between 168.10 and 166.20
The expected trend for today: Bearish