The GBPJPY pair provided negative trades recently by fluctuating below the additional support at 156.00, to hint postponing the bullish attack and surrender to stochastic negativity.
The positive rally towards 156.50 is not considered as a signal to renew the bullish attempts due to the frequent stability below 157.40 barrier, therefore, we will start to suggest the correctional bearish attempts, to expect crawling towards 155.20 level, followed by attempting to test the bullish channel’s support line at 154.40 before recording any positive target.
The expected trading range for today is between 156.90 and 155.20
The expected trend for today: Bearish