The GBPJPY might be forced for the correctional decline – Analysis – 2-3-2021

The GBPJPY pair still stable negatively below 149.65 barrier, to block the attempt to resume the waited bullish attack, noting that stochastic attempt to provide the negative momentum might increase the chances of crawling below the additional support at 147.80, to force it to form correctional bearish waves that might extend towards 146.05 and 144.70 levels.

On the other hand, succeeding to settle above 149.65 barrier will confirm the preparation to renew the bullish attempts, to expect moving towards 150.60 initially, followed by reaching the key resistance 151.60.

The expected trading range for today is between 149.10 and 147.20

The expected trend for today: Bearish