The GBPJPY is confined within tight range – Analysis – 19-8-2022

The GBPJPY pair formed some of the negative trading, showing its affection by the bearish correctional bias domination, to face the moving average 55 that is located near 161.80 and settles above it.

The stability of the mentioned levels makes us expect providing unstable sideways trading, to suggest the sideways trading until the price succeed to surpass one of these levels, to detect the main targets in the near and medium period.

Note that the GBPJPY price success to break 161.80 level and holding below it will reinforce the bearish track, and 159.85 level forms the next main target for the bearish bias.

The expected trading range for today is between 163.00 and 161.80

The expected trend for today: sideways until achieving the break