The GBPJPY fluctuates within the bearish track– Analysis – 28-3-2023

The GBPJPY pair ended the bullish correctional rebound by its stability below the moving average 55, confirming the continuation of the domination of the bearish bias to settle near 160.80, the attempt of the main indicators to provide negative momentum will increase the efficiency of the bearish track, to keep our attempt to target 159.75 level, then repeats the pressure on the extra support at 158.60.

while surpassing the moving average 55 that is located at 162.20 and holding above it, so that will delay the negative attack temporarily, to expect targeting some extra correctional stations which might extend to 163.00 and 164.10. 

The expected trading range for today is between 162.00 and 159.75

The expected trend for today: Bearish