The GBPJPY holds below the barrier – Analysis – 18-11-2022

The GBPJPY pair attempted to form some positive waves to test the sideways range’s resistance at 166.80 and settles below it, as the stability below this barrier will allow us to suggest the negative attempts for now, to target 165.25 as a first station, followed by waiting to reach the initial support near 164.50.

Note that succeeding to breach the current barrier and getting positive close above it will confirm regaining the bullish bias, to expect forming strong positive rally and target 167.90 initially, followed by reaching 169.00.

The expected trading range for today is between 166.80 and 165.25

The expected trend for today: Bearish