The GBPJPY is confined within tight range – Analysis – 3-3-2021

The GBPJPY pair surrendered to the stability of 149.65 level to continue forming resistance against the bullish attempts, while 147.85 forms key support to decrease the chances of suffering big losses in the upcoming period.

Therefore, we will stay neutral until surpassing one of the mentioned levels, noting that breaching the resistance will open the way to record positive targets that might extend to 150.60 and 151.60 levels, while surrendering to the negative pressures and getting negative stability below the additional support will confirm the preparation to provide correctional bearish trades that might push it to reach 147.10 and 146.00 levels.

The expected trading range for today is between 149.60 and 148.00

The expected trend for today: Neutral