The GBPJPY gathers its strengths – Analysis – 8-12-2022

The GBPJPY pair resisted the negative pressures recently to notice the attempt to surpass 166.80 barrier, in order to confirm regaining the bullish bias and recording 167.40 level, while stochastic positive momentum allows us to expect resuming the bullish attempts to target many positive levels that start at 168.00 and 169.10.

On the other hand, turning back to settle below the mentioned barrier will force the price to form mixed sideways waves with chances of suffering some losses by crawling towards 165.40 followed by reaching the moving average 55 at 164.50.

The expected trading range for today is between 166.00 and 168.00

The expected trend for today: Bullish