The GBPJPY keeps the correctional bearish track – Analysis – 16-6-2022
No change to the GBPJPY pair’s correctional bearish track, due to its consolidation below 164.30 additional barrier, also, stochastic continuous fluctuation near 20 level will increase the chances of gathering the negative momentum in order to reinforce the negative track, to keep waiting to reach 162.40 and 160.80 levels.
On the other hand, succeeding to surpass the barrier and holding above it will allow the price to form bullish trades in order to resume the main bullish attack, to expect moving towards 165.40 followed by 167.00 levels.
The expected trading range for today is between 164.00 and 162.40
The expected trend for today: Bearish