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The GBPJPY hits the target – Forecast today – 7-11-2024
The GBPJPY pair resumed the bullish rally yesterday, taking advantage of the additional support line stability at 197.35, to notice achieving the first additional target at 199.40 and settling near it, also, stochastic exit from the overbought areas might force the price to provide correctional negative rebound to target 198.30 and 197.75 levels.
These factors allow us to suggest the correctional bearish bias for today until reaching the mentioned correctional stations, while breaching the barrier and holding above it will reinforce the chances of resuming the bullish attack that might target 200.60 initially.
The expected trading range for today is between 198.30 and 199.60
Trend forecast: Bearish
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